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Why Lebenthal Sees Apple, Amazon Stock Reaching New All-Time Highs After Earnings

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Why Lebenthal Sees Apple, Amazon Stock Reaching New All-Time Highs After Earnings

CNBC's Jim Lebenthal is expecting big tech investors to be happy at the end of this week, he said Monday on CNBC's "Fast Money: Halftime Report."

This week is an incredibly important one for the markets, Lebenthal said. 

The expectations are high going into the reports, he said, adding that earnings will be a tell as to where investor sentiment stands.

Apple Inc (NASDAQ: AAPL) and Amazon.com Inc (NASDAQ: AMZN) have not moved much over the last seven months, Lebenthal told CNBC. 

He's expecting the earnings reports from Apple and Amazon to be the catalysts that push both stocks to new all-time highs.

If the companies disappoint on earnings or they exceed expectations and the market does not follow it up with buying, "that's a bad sign," he said, adding that he does not expect this to be the case. 

Related Link: Apple Leads The Market Rebound. Here's Why.

AAPL, AMZN Price Action: Apple shares gained 0.3% Monday, closing at $134.72. 

Amazon was up 2.04% at $3,409. 

Photo courtesy of Apple. 

 

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