“In order to save the village we had to destroy it…”
As Apple passes through the $2 trillion market cap, I’m hi-fiving myself or correctly understanding how it would successfully weather the Pandemic storm – and I can’t help but wonder when to sell. The speed at which the market wobbled after the Fed failed to make loud enough promises about even more bailout and support ahead, says it all about what’s driving the current market.
Sure, there are lots of analysts and investment banks saying the outlook for stocks is for further upside, and raising their targets for the year. If it happens, I hope they remember to thank the Fed.
The reality is markets are on a spectrum between uber-bears (who always believe everything is going to end badly) and the pixie-dust-upside-prophets who think current market strength is properly discounting an even stronger post-Covid rally and vaccine driven recovery. The truth, as always, is not only out there, but probably lies in-between these extreme views.