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%.
On Tuesday, despite the decline in stocks, its release in the field of artificial intelligence (ai) has sparked a bullish prediction among Wall Street analysts.$Apple (AAPL.US)$Despite the drop in stocks, the release in the field of ai has sparked a call forecast among Wall Street analysts.
As of the close, the stock fell 1.1%, reporting at $214.29. Since early June, driven by AI strategy, the stock price has risen from about $192.
Morgan Stanley analyst Samik Chatterjee wrote in a research report on Tuesday, "After the WWDC event, we updated our sales forecast for the iPhone 16 and iPhone 17 cycles, which showcased a range of AI features that we believe will drive the iPhone upgrade cycle, starting with the iPhone 16 release... reaching its peak after the iPhone 17 release."
Chatterjee now expects Apple's 2025 iPhone shipments to reach 250 million units, up from 228 million units this year. He expects it to reach 275 million units by 2026. He raised Apple's target price from $225 to $245 and maintained a bullish rating.
Currently, Apple's stock has a price-to-earnings ratio of 30 times the next 12 months' expected earnings, up 43% from the S&P 500 index's 21 times. Using FactSet data, the stock's average premium over the past 10 years is 26%. Chatterjee's price target is based on his estimated earnings for Apple in 2025, which is 29 times his estimate.
According to FactSet data, Wall Street's average target price for Apple is $205.52. Only Daniel Ives from Wedbush, who is bullish on technology stocks, expects the price to rise to $275, higher than Chatterjee's $245.
However, not all analysts are equally optimistic about Apple's stock. Atif Malik of Citibank recently expressed a cautious view on Apple.
Editor / jayden