Rivian's 'Exponential Move' Vs. Apple's 'Incremental Grind:' Why This Trader Wants To Exit Tech Giant And Pile Into EV Startup
Portfolio Pulse from Shanthi Rexaline
Trader and market analyst Steve Grasso is planning to exit Apple Inc. (AAPL) and invest in EV startup Rivian Automotive, Inc. (RIVN). Grasso sees Rivian as an exciting beta play with the potential for a spike higher, while Apple's upward trajectory may now be a grind higher after reaching the $3 trillion milestone. He believes that Rivian could easily trade between $30 and $50, given its strong fundamentals and transformation into a bona fide car company.
July 07, 2023 | 6:39 am
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NEUTRAL IMPACT
Apple's stock may experience a slow upward trajectory after reaching the $3 trillion milestone, according to trader Steve Grasso.
Grasso's comments suggest that while Apple's stock may continue to rise, the pace of growth may slow down. This could potentially impact investor sentiment and the short-term performance of the stock.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 80
POSITIVE IMPACT
Rivian's stock has the potential for a spike higher, with the possibility of trading between $30 and $50, according to trader Steve Grasso.
Grasso's comments suggest a bullish outlook for Rivian's stock, based on the company's strong fundamentals and transformation into a bona fide car company. This could potentially impact investor sentiment and the short-term performance of the stock.
CONFIDENCE 70
IMPORTANCE 80
RELEVANCE 100