Is the Apple Stock About to Boom?

Is the Apple Stock About to Boom

The Nasdaq composite closed slightly higher Friday as the stock market rallied after a better than expected jobs report. Apple has a Composite Rating of 91 out of 99. The stock has relative strength lines at new highs, with earnings fueling upside momentum.

The speculation is that every new Apple product expected to launch will boost it's stock even more. They release new software to everyone in September, alongside the launch of the new iPhones. Apple has always been a pioneer and steadily improved its phones, and kept its devices close to the cutting edge of technology.

The release of the biggest redesign in the iPhone in years happened in 2017. The iPhone X loses the home button in favor of a facial recognition scanner and a nearly edge-to-edge screen. The company's iconic smartphone has changed more than just the Tech game. By more or less creating a model for modern smartphones, Apple has arguably changed the world.

Apple hit a new closing high of 187.97 Friday. In addition to the strong RS line, heavy volume is another bullish indicator for Apple's breakout.