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Apple stock up significantly from June lows

Yahoo Finance Live anchors discuss stock performance for Apple and AMD.

Video transcript

- One of the names that stood out to me right off the bat is one of the hottest tickers on the Yahoo Finance platform consistently and with good reason. And that in fact, is Apple. Apple shares up 30% off of those-- off of those June lows.

- Yeah, and it really looks like people are looking at least on the long term positions that they may be setting right now, where they could find some value, especially in the depressed valuations for names like Apple, and names like even Amazon. Amazon over the past month is up significantly as we've been tracking that as well as some of the other big tech names.

And so for these moves that we've seen, since those June or in some cases, July lows that we had seen even in big tech names, taking a look at Amazon, perhaps there's a little bit of nibbling. And this is also we should note after some of the stock splits have gone into effect, so becoming a little bit more approachable for even the retail investor.

- Yeah, we've seen a flight to quality, flight to growth, or flight to companies that investors know very well that are in fact growing. But I would say, this has been a bit of a cow dung rally. Some sneaky names have really rallied off the lows. And our team dug up these names. We're talking about Norwegian cruise line, Carnival Cruise line. Of course, these are companies that investors know very well, but still over leveraged balance sheets challenged fundamentals. Investors are even going back to those names.

- Yeah, and I think for Amazon, even as I mentioned them earlier, AMD was another one that I was taking a quick look at here. And then we're seeing a few of the names that you were just mentioning there on the screen. Etsy is one that I actually spotted as well because it's remarkable that even despite some of the earnings that have come out recently from these companies, or the warnings that we've received from them, investors still looking for a long term opportunity and perhaps looking through exactly what we're seeing right now, with the reality of consumers trying to either pull back, or having had already pulled back on discretionary spending.

For some of the investors out there, they're are looking through either a technical recession or the risk of a real recession to say. There's still an opportunity that these companies could see significant growth once everything starts to settle out.

- Yeah, we broke this down further, even looking at some potential catalysts behind their moves. That's why stocks go up and down. Certain things trigger results. Now, we just-- we'll talk about PPI more as the show progresses. But don't underestimate the power of lower gas prices fueling a lot of these moves. I find it really unsurprising that stocks have rallied off those June lows. At the same time gas prices continue to really decline seemingly every single week. That has been a big move, catalyst to many names.