NFLX, AMZN and AAPL Forecast – Major Tech Stocks Looking to Rally

Netflix (NFLX) Technical Analysis

Netflix looks like it’s going to be a little bit negative at the open as it is navigating a complex revaluation phase after its recent earnings call, which was positive and did beat, but its massive $83 billion proposed acquisition of Warner Brothers Discovery.

While the earnings call was fundamentally strong, crossing the 325 million subscriber milestone and forecasting a doubling of ad revenue to $3 billion this year, the market has collapsed the share price due to the high cash cost of acquiring Warner Brothers.

I do think longer-term, this becomes a very interesting place to live, and $82.50 seems to be a hard floor.

Amazon (AMZN) Technical Analysis

The market for Amazon is a bit positive in early trading, and I think at this point you have to look at Amazon as a potential mover. It’s more of a grind higher than anything else though, as it’s worrying investors about efficiency highlighted by the commencement of its largest ever round of corporate layoffs, roughly 16,000 starting today.

The market does look like it is going to give it a little bit of pressure due to escalated trade tensions, but over the longer-term, this is a steady as she goes type of situation as most passive investing vehicles have at least some exposures to Amazon.

Apple (AAPL) Technical Analysis

Apple looks like it’s going to jump a bit at the open as it is making a bigger foray into artificial intelligence as it is entering a multi-year partnership with Google Gemini to power Siri and Apple Intelligence.

Because of this, I think it lifts some of that concern about falling behind in the AI race, but more importantly, perhaps not draining the company’s resources trying to design its own artificial intelligence when you can go with a proven winner.

From a technical analysis standpoint, we did just bounce from the 38.2% Fibonacci retracement level and of course the 200-day EMA.

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