Tim Cook’s Apple Inc (NASDAQ:AAPL) has been making waves in the stock market, recently surpassing the $4 trillion market cap level. Currently trading up 0.3% at $269.67, AAPL is one of the top players in the market, following only Microsoft Corp (NASDAQ:MSFT) and Nvidia Corp (NASDAQ:NVDA) in terms of market cap.
AAPL has been on a winning streak, hitting a fresh record of $269.89 and showing strong support from the 30-day moving average. With a 7.4% year-to-date gain, AAPL is gearing up for its fiscal fourth-quarter report, scheduled for release on Thursday, Oct. 30.
Meanwhile, MSFT is not far behind, trading up 2% at $542.52 and eyeing its eighth consecutive daily increase. With a 27% year-over-year gain and support from the ascending 80-day moving average, MSFT is set to report its fiscal first-quarter earnings on Oct. 29.
On the other hand, Nvidia Corp is also performing well, trading up 2% at $195.67 and on track for its fourth daily win. With a 5% quarterly gain and support from the 80-day moving average, Nvidia is expected to report earnings in late November.
All three stocks have seen an increase in call options trading, with AAPL’s 50-day call/put volume ratio of 2.46 ranking higher than 77% of readings from the past year. MSFT and NVDA’s 50-day call/put volume ratios of 2.16 and 2.22 respectively also rank high in comparison to annual readings.
Additionally, options for AAPL, MSFT, and NVDA are looking affordable, with each stock sporting a Schaeffer’s Volatility Index (SVI) that ranks in the 34th percentile of its annual range or lower.
Overall, these ‘Magnificent 7’ powerhouses are dominating the market charts and are set to continue their winning streaks in the upcoming earnings reports. Investors and traders are keeping a close eye on these stocks as they continue to show strong performance and potential for growth.
