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Two Pros Offer Tech Stock Ideas After Apple's Presentation

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Two Pros Offer Tech Stock Ideas After Apple's Presentation

Apple Inc. (NASDAQ: AAPL) held a presentation Monday where management detailed new products and services — but there may be other more attractive plays in the market for investors outside of the iPhone maker's stock. 

Chantico Global's Sanchez: Apple Entering Mature Markets

Apple will face challenges ahead in its new ventures, since it is "planting flags" in markets that are already "fairly mature," Chantico Global's Gina Sanchez said on CNBC's "Trading Nation" segment Tuesday. Apple "has to make a pivot" into new ventures, which presents a challenge for Cupertino, she said. 

The company is also making a major selling point of privacy as it pledges not to sell consumer data, Sanchez said. 

Oppenheimer's Wald: Premium On Apple-Like Companies

Apple's presentation comes at a time when its new ventures continue to show encouraging macro tailwinds, said Oppenheimer's Ari Wald. It also comes at a time when interest rates across the world signal a potential slowdown in the global economy.

A "premium will continue to be placed" on large-cap, quality companies like Apple, the analyst said. 

Aside from Apple, Microsoft Corporation (NASDAQ: MSFT) traded above its old all-time highs and recently hit a new all-time high of $120.82. What's encouraging is that the stock did so in the current "mixed and questionable" environment, he said. 

Amazon.com, Inc. (NASDAQ: AMZN)'s stock is proving to be the "most tactical its been in years," Wald said. The stock's weekly MACD recently inflected positive from the most oversold condition seen since 2014.

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Oprah Winfrey at Apple's Monday presentation. Courtesy photo. 

Latest Ratings for AAPL

DateFirmActionFromTo
Oct 2019MaintainsEqual-Weight
Oct 2019MaintainsOutperform
Oct 2019UpgradesNeutralBuy

View More Analyst Ratings for AAPL
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Posted-In: Apple TV Ari Wald Chantico Global CNBC Gina SanchezAnalyst Color Analyst Ratings Media Best of Benzinga

 

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