On CNBC’s “Trading Nation,” Ari Wald of Oppenheimer said Apple Inc., which is the largest component in the Nasdaq 100 index, has surged above the September peak level.
Wald commented that “it has been the same story for the Nasdaq 100” with the high-growth benchmarks hitting fresh highs and giving steadier returns to investors.
The technology stocks have been able to move higher along with the broader market, also holding up “relatively better” at the time when risk-on indicators including “interest rates and commodity prices have been stagnant.”
Apple shares closed 0.33 percent higher at $161.94 on Wednesday.
The Nasdaq 100 closed 0.37 percent higher 16,367.81.
By Craig Jones
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