AMZN, AAPL and MSFT Forecasts – Mag 7 Looking to Rise

AMZN Technical Analysis

The “Magnificent Seven” continue to show signs of resiliency despite the fact there’s been so much pressure on many of them. Amazon is still trying to gain some support with its Prime Video Ultra, which is basically a price hike coming down the road. It’s also struggling at the same time with its acceleration in Azure cloud revenue, although it really hasn’t been profound. Traders are trying to determine whether or not that will pick up.

Ultimately, I think the $200 region somewhere in this messy area down here is your floor, and with talk of peace, interest rates have dropped, and that would continue to benefit these types of tech companies.

AAPL Technical Analysis

Apple is holding its own as it is bouncing from the 200-day EMA, and while it does have a very high valuation metric at 31 times PE, the “risk off” rotation has definitely been favoring Apple’s fortress balance sheet and its relative insulation from the AI spin fatigue.

From a technical analysis standpoint, it looks like somewhere around $250 we might be trying to form a double bottom. This could end up being a mover to the upside.

MSFT Technical Analysis

Microsoft continues to struggle due to the malaise when it comes to OpenAI and other projects it has its fingers in. Microsoft continues to look miserable, although it does look like there could be a bit of a bounce during this session here on Wednesday.

I look at this with extreme scrutiny, and with this being the case, I believe that out of the three, this is probably the one I would avoid trying to play a bounce on, despite the fact that it is trying to jump. Capital expenditure continues to be a massive problem here, spending $37.5 billion last quarter alone. This one might be a little toxic. I think we also have concerns about Copilot not really taking off, and they’re losing the AI war here.