Source: Zhitong Finance "Since 1950, the S&P 500 index has risen more than 10% 21 times as of the end of May. In about 90% of these cases, the S&P 500 index rose for the rest of the year. There were only two instances of declines for the rest of the year, in 1987 (-13%) and 1986 (-0.1%)." With the rebound of the stock market, the old adage "Sell in May and Go Away" seems to have been a bad advice once again. Last month, the S&P 500 index rose 4.8%, the best May performance since 2009. The NASDAQ 100 index rose nearly 6.2%, and the NASDAQ Composite Index rose 6.9%. Goldman Sachs FICC & Equities Trading Division said: "History doesn't really support this saying. Don't sell, leave the market (go on vacation), and enjoy the good times." The rising trend is still to be continued? If history is any guide, it may indicate that the rise of the stock market is not over yet. Looking ahead to the rest of 2024, Scott Rubner, Managing Director of the Goldman Sachs Global Markets Division and tactical expert, pointed out the following historical background for investors. Rubner stated that the S&P 500 index has risen 10.7% year-to-date, and since 1950, the S&P 500 index has risen more than 10% 21 times as of the end of May. In about 90% of these cases, the S&P 500 index rose for the rest of the year. There were only two instances of declines for the rest of the year, in 1987 (-13%) and 1986 (-0.1%). "Since 1950, the median return of the last 7 months of each year (June 1 to December 31) is 5.4%. In the aforementioned 21 cases, the average performance of the last 7 months increased to 8.1%." Rubner added. Rubner also pointed out that the NASDAQ index has risen for 16 consecutive Julys, with an average return of about 4.64%.

Bank of America analyst Wamsi Mohan gave a "buy" rating with a target price of $230.$Apple (AAPL.US)$According to the latest analysis from Bank of America, Apple saw low double-digit growth in App Store revenue in the first half of the third quarter. SensorTower data shows that App Store revenue grew by 11% year-on-year in 66 days, reaching $5.4 billion, with global revenue growing by 12% in May, of which China's contribution was 10%.

Mohan further broke down the sources of revenue, pointing out that game revenue grew 6% year-on-year to $2.8 billion, accounting for 52% of total revenue, slightly lower than the same period last year, but games remain the largest source of revenue in the App Store. In addition, entertainment, photos and videos, social networks, music, and other categories also performed well. App Store revenue from productivity apps grew 36% year-on-year, accounting for 3% of total revenue, the fastest-growing segment. In the Chinese market, game revenue declined slightly by 2%, while entertainment revenue grew by 20% year-on-year. Mohan added that entertainment now accounts for 20% of total App Store revenue in China, up 2 percentage points from last year.

In Europe, despite the challenges of the Digital Markets Act (DMA), the impact on Apple seems insignificant. Mohan wrote in the report, "Data from the App Store observed within the EU shows that total downloads increased by 3% year-on-year, while total App Store revenue increased by 25% year-on-year in the past 90 days. So far, the volume of alternative browser downloads in the EU remains small, and consumer behavior remains largely unchanged after the implementation of DMA." In addition, the total number of iPhone and iPad downloads remained stable compared to the same period last year at 5.8 billion times.

Mohan emphasized that Apple is expected to usher in a multi-year upgrade cycle, with the potential for gross margin improvement and long-term service growth, providing a positive outlook for investors.

In addition, the total number of iPhone and iPad downloads remained stable compared to the same period last year at 5.8 billion times.

Mohan emphasized that Apple is expected to usher in a multi-year upgrade cycle, with the potential for gross margin improvement and long-term service growth, providing a positive outlook for investors.

Editor / jayden