Erik Swarts is an independent trader and market technician. He writes the superb and provocative Market Anthropology Blog.
As Apple (AAPL) pulls into another earnings report after the bell Wednesday, we thought we would update our momentum comparative that has painted the inflections and trajectory on the tech behemoth quite closely over the past 16 months.
While Apple's performance this year has not surprisingly consolidated the strong upside reversal witnessed in 2013, the momentum going into earnings is still presenting an upside bias for the stock.
As one of the only individual equity names that we cover closely and carry, we continue to like the position. With a return of almost 40% over the past year, the value potential in Apple has both outperformed the broader indexes (SPX~20% & Nasdaq~29%) and its closest tech contemporaries - even Google (~35%) and Amazon (~27%).
Considering our expectations that risk aversion and volatility are poised to rise in the equity markets through