Trump announces 50% tariff on copper, effective August 1
Today, we saw a Morgan Stanley (MS) analyst upgrade Amazon.com, Inc. (AMZN) to overweight with a price target of $325.00. This came as the stock was hovering just underneath its 52 week and all time highs with a P/E north of 100.
This upgrade reminds many traders of similar upgrades that occurred with Apple Inc. (AAPL) when it was trading at all-time highs of $700.00. Since those upgrades, AAPL has fallen all the way back to its current level of $522.36, -4.64 (-0.88%).
Watch The Institutions
Amazon hit a high of $269.30, today, but has already fallen back to $265.96. Upgrades at an all-time high on a stock are usually a high-risk idea. These stocks are generally priced to perfection and often institutions will sell into the retail buying. Note the aftermath of AAPL before thinking about buying into this upgrade on Amazon.
3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads.
Which stock should you buy in your very next trade?
With valuations skyrocketing in 2024, many investors are uneasy putting more money into stocks. Unsure where to invest next? Get access to our proven portfolios and discover high-potential opportunities.
In 2024 alone, ProPicks AI identified 2 stocks that surged over 150%, 4 additional stocks that leaped over 30%, and 3 more that climbed over 25%. That's an impressive track record.
With portfolios tailored for Dow stocks, S&P stocks, Tech stocks, and Mid Cap stocks, you can explore various wealth-building strategies.