Apple Stock Has Inflated Another Dangerous 'Dotcom' Bubble In The Nasdaq, Crypto Coins News
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Apple stock is on an incredible tear as the Nasdaq hits record highs.
Fueled by momentum and a huge share-buyback program, Apple is garnering some wild forecasts on Wall Street.
Economist Sebastian Galy believes that markets are getting carried away and bear close resemblance to the dotcom bubble.
Apple (NASDAQ: APPL) has been the shining jewel in the Nasdaq over the last year. Currently trading over $ 310, the tech giant performed an extraordinary feat for a company that was already one of the most valuable in the world, doubling in value from its lows in (**********************************************. ********
First, the bullish argument: Apple is a runaway train, flush with cash and enjoying strong demand for its wireless headphones. Throw in the fact that it’s successfully cornering the Chinese market with its smartphones and some enthusiasm about the upcoming 5G compatible iPhone (************************************************************. ********
Combine all this with ultra-low interest rates, low inflation, and a generally positive risk environment, and it’s no wonder APPL stock is so in demand.
The Nordea economist also describes how Apple is unlikely to sustain its current level of innovation, and cheaper phones with similar features are going to flood the market in the event of an economic slowdown squeezing consumer purse strings.
DotCom Deja Vu For The Nasdaq
With a market cap of $ 1.4 trillion, there is no questioning how important APPL stock is to both the Nasdaq and the stock market as a whole.
With every possible fundamental pumping the price, Wall Street analysts are coming up with
deterior wild forecasts. Deja vu, anyone?Disclaimer: The opinions expressed in this article do not necessarily reflect the reviews of CCN.com. ********************
This article was edited by (Sam Bourgi) ******************************. **************
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