Wall Street analysts and market participants, however, were divided on whether the reversal seen in mid-June marked a sustained uptrend or a bear rally.
How Do Returns Stack Up? Apple is a blue chip that has the highest weighting in the S&P 500 Index. The stock bottomed at $129.04 in mid-June and was seeing a nice upward bounce until the Powell shocker.
And if inflation readings over the next few months show a downtrend, the bull-bear tug-of-war could decisively move in favor of the former.
Amazon, Inc. (NASDAQ: AMZN) has been the best performing FAANG stock thus far this year, and given the company’s multiple profit centers, it is one worth tracking.