Over the past six months, Apple (AAPL) has managed shyly to stay in the green zone with +4% despite the macroeconomic situation, the difficulty related to finding raw materials that has affected Tech companies the most, and inflation and war that have triggered a major market downturn.
Bitcoin records double the volume traded by the Apple stock
In the past month in particular, Apple has jumped 14%, showing how investors believe in the stock and its future. Despite this, there are those who do even better, and not by a small margin.
According to 30-day trading volume data, a striking figure emerges. Indeed, Bitcoin’s trading volume is two times higher than that of a solid and recognized company like Apple.
The feeling is that investors have sort of swapped roles. The Apple company is increasingly seen as a safe haven asset, while BTC is idealized as an asset to trade, when it should be understood more from a long-term perspective.
The trend seems set, but some evidence suggests that it will not last long.
With Bitcoin at or near the bottom, crypto is in a stalemate that could end soon, according to most analysts.
Apple for its part is looking forward to 27 and 28 July not only for the data on inflation, GDP, and Fed countermoves, but also because that is a very important date for the company itself.
On 28 July, Apple‘s quarterly report will be released and commented on, which will decree its behavior among investors in the market depending on whether it will be above or below stated expectations.
This set of factors could significantly affect the average trade and perhaps lead to a reversal in the Apple-BTC ratio.
Apple is currently at +0.35%, stationary from yesterday’s day with broadly similar trading.
Severe macroeconomic condition puts equities in trouble
According to most investors, the Cupertino company will hit its targets by outperforming, provided that no one has any certainty of this. If so, it would be a nice confirmation for the company, which also met market expectations in the previous quarter.
The GDP and CPI data could heavily influence the performance of stocks and therefore, also that of AAPL. If the quarterly report goes well, it could contain the damage, but if not, the stock could suffer some defections.
What is certain is that the trading volume, and presumably the volatility of the stock, will increase, and that alone could restore a balance relative to Bitcoin.