Apple, Amazon, Trade Desk Upgraded

Apple, Amazon, and Trade Desk stocks are moving higher

Karee Venema
May 12, 2017 at 9:56 AM
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Analysts are weighing in iPhone maker Apple Inc. (NASDAQ:AAPL), as well as e-commerce stock Amazon.com, Inc. (NASDAQ:AMZN), and digital advertising issue Trade Desk Inc (NASDAQ:TTD). Here's a quick roundup of today's bullish brokerage notes on shares of AAPL, AMZN, and TTD.

AAPL Stock Price Target Raised at Goldman Sachs

Goldman Sachs raised its price target on AAPL stock to $170 from $164, sending Apple shares 1.2% to $155.77 -- a new record high. With the shares boasting a 33% year-to-date lead, AAPL options traders have been buying to open calls over puts at an annual-high clip in recent weeks. At the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), Apple stock's 10-day call/put volume ratio of 2.73 ranks above all other readings taken in the past year. Separately, Apple announced glass maker Corning will be the inaugural benefactor from its Advanced Manufacturing Fund.

Mark Cuban: AMZN Has "Enormous" Global Growth Potential

Billionaire investor Mark Cuban said Amazon is the "ultimate start-up," and that the company's "prescriptive" method creates "enormous" global growth potential -- more so than any of its other undervalued FANG stocks. Following this upbeat outlook, AMZN stock has jumped 0.6% to trade at $953.24. This positive price action is just more of the same for Amazon shares, though, which are up 27% in 2017, and fresh off a May 9 all-time peak of $957.89. Those wanting to bet on AMZN stock's extended rise could consider doing so with options, which are attractively priced. The security's Schaeffer's Volatility Index (SVI) of 15% ranks in the low 8th annual percentile, meaning low volatility expectations are currently priced into AMZN's near-term options -- a potential boon to premium buyers.

TTD Stock Trades at Record High After Earnings

TTD stock has jumped more than 20% out of the gate to $48.08 -- uncharted territory for the Wall Street freshman -- after the company reported strong first-quarter results and upwardly revised its revenue forecast. What's more, Trade Desk shares received price-target hikes from Citigroup (to $55), RBC (to $56), and Jefferies (to $57). Year-to-date, the security, which went public last September, is up more than 70%, yet almost 17% of its stock is sold short. This could pave the way for more gains for TTD shares, considering it would take almost a week to cover these bearish bets, at the average pace of trading.


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