Mizuho analysts have identified Apple and Meta Platforms as two major players that have been garnering attention in the market. Both companies have shown impressive performance recently, with Meta soaring 750 basis points and Apple not far behind with a 700 basis point increase over the past five days. This surge has outpaced the tech sector, which has seen a 400 basis point gain.
Meta’s steady rise since April lows reflects sustained investor confidence in its valuation and growth prospects. Mizuho stated, “Only $20 below the pre-print price levels. No one tells me they are done with META or sellers. It is still well-liked at this level, given the valuation and growth potential.”
On the other hand, Apple has seen gains of 12% from its mid-April low, leading to a market cap surge of over $300 billion in just three weeks, surpassing competitors like AMD and Intel. Mizuho analysts anticipate Apple’s continued rise, potentially reaching $190 levels, driven by excitement surrounding its upcoming WWDC gen AI launch event in early June.
Mizuho also notes the increasing investor interest in Apple, with discussions among long-only accounts focusing on potential catalysts such as AI advancements and global demand trends. Overall, Mizuho sees a short-term opportunity in Apple, especially leading up to its AI-focused event, projecting potential outperformance against other large-cap tech peers.
With both Meta and Apple gaining attention and momentum, investors are advised to keep a close watch on these Magnificent 7 stocks in the coming weeks.