Apple Stock Sends Major Warning Signal as Momentum Hits Peak
Apple stock (AAPL) has surged nearly 55% over the past year and 19% in 2026, reaching a $4.9 trillion market cap. However, a rare technical signal has flashed: Apple's 12-day rate of change against the S&P 500 (SPY) hit 17%, a level seen only once before during the summer 2020 tech rally. That previous instance marked a near-term exhaustion point, leading to eight months of underperformance. Chief market strategist Seth Golden advises rotating profits elsewhere. Despite strong fundamentals—fiscal Q2 revenue of $111.2 billion (up 17% YoY), record Services revenue of $31 billion, and a $100 billion buyback authorization—the stock trades at $324, above the average analyst target of $315.63. Headwinds include rising memory costs and supply constraints on Mac models. Additionally, CEO Tim Cook will transition to Executive Chairman on September 1, handing the CEO role to engineering chief John Ternus.
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