Contrary to the stock market saying 'sell in may and go away', in the month of May the stock markets continued the rally setting new records and even in this early summer the trend does not seem to end with any brief slowdown. All this has brought satisfaction to our 'The Challenge' stock portfolio.
The theme behind this movement is well known: macro data that doesn't disappoint too much and a moderate drop in inflation, which suggest the growing possibility of the infamous “soft landing”, i.e. a situation in which inflation returns without the economy needing to slow down much. The consequence of this is that central banks can relax and possibly cut rates at the slightest sign of weakness, or even just to adapt monetary policy to the inflationary framework. Therefore we have certainly seen a top in interest rates, with the ECB starting to cut rates and most likely by the end of 2024 the FED will also start cutting rates to the benefit of companies, especially high-growth ones.
Our operational strategies they allow us to continue our activity both in phases of market weakness and in the presence of markets with increasing relative strength, grinding target after target on our equity portfolios. Remember that our operational advice from LombardReport.com follows you everywhere, at work or on holiday, just one click is enough to ensure you don't miss any opportunity to trade but also to earn money.
And we come to another of the winning operations of this 2024 on the Historical Portfolio:
Apple, symbol: AAPL, ISIN code: US0378331005, it is a security included in The Challenge portfolio of Lombardreport.com “traded” with the “US Shares” strategy. The stock is listed on the NASDAQ stock market in New York.
We purchased the US stock precisely on the day March 7, 2024at the price of $169.00 with the US Stocks strategy of The Challenge Portfolio. After less than three months of trading and precisely on the day June 12, 2024the stock managed to touch our target level at $219.70 to whom we sold earning a magnificent + 30.00%!
The APPLE company It certainly needs no introduction. The company is engaged in the design, production and sales of smartphones, personal computers, tablets, wearable devices and accessories and other varieties of related services. Its products and services include iPhone, Mac, iPad, AirPods, Apple TV, Apple Watch, Beats products, AppleCare, iCloud, digital content stores, streaming and licensing services. Finally, just last week it unveiled 'Apple Intelligence', a system-level update to the software on its devices that, according to the tech giant, could offer users a personalized version of generative artificial intelligence.
The company founded by Steven Paul Jobs, Ronald Gerald Wayne and Stephen G. Wozniak in April 1976 with headquarters in Cupertino, California, had revenues of almost $400 billion in 2023, has over 161,000 employees worldwide and operates in the following geographic segments: Americas, Europe, China, Japan and the rest of Asia Pacific, India, the Middle East, Africa and Australia and has a market capitalization of more than $3,350 billion.
The Challenge Wallet implements a medium-long term strategy on Italian, European and US stocks, with good balance sheet data over the years and which are currently penalized by the market for various reasons (e.g. a quarterly result below expectations, unexpected news, etc.) and with earnings prospects above 20%.
Below is the equity line updated to June 13, 2024:
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