Two of the best stocks that belong in all portfolios are Apple (AAPL) and Tesla (TSLA).
At the moment, Apple is up to $476 a share, and could easily hit $500 ahead of next week’s 4:1 stock split. Once that split knocks the price down, we could see a quick return of $400 a share with patience. Nothing, it seems, can keep Apple down.
“Apple’s $2 trillion valuation represents about 10 percent of GDP for the U.S. and about 7 percent of the S&P 500,” said David Kass, professor of finance at the University of Maryland’s Robert H. Smith School of Business. “Its iPhone is ubiquitous. It has transformed the way we live. Its ecosystem is self-sustaining.”
Better, Apple could be on its way to becoming a $3 trillion company.
According to Wedbush analysts, “By 2023, we believe given super-cycle potential and services business,” Ives said. “While the soft macro and COVID backdrop are weighing on near-term consumer demand trends, Apple has a ‘once in a decade’ opportunity over the next 12 to 18 months as we estimate roughly 350 million of Cupertino’s 950 million iPhones worldwide are in the window of an upgrade opportunity.”
Tesla (TSLA) is still rocketing to new highs, too.
At the moment, the stock is up to $2,030, and could hit $2,100 before its 5:1 stock split. This is another hot stock that could quickly rally back above $1,000, post-split.
Helping, Wedbush analysts also noted, “We continue to believe [electric vehicle] demand in China is starting to accelerate in July/August with Tesla competing with a number of domestic and international competitors for market share with Giga 3 remaining the linchpin of success which remains the prize that [Chief Executive Elon] Musk and Tesla are laser focused on capturing.”
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