Apple (AAPL) became the most under-owned mega cap technology stock at the end of the second quarter, according to a Morgan Stanley research note published Wednesday.
That positions the stock for further upside, making us even more optimistic on this essential "own it, don't trade it" Club stock.
Behind Apple, the Morgan Stanley report showed, the other most under-owned stocks were Microsoft (MSFT), Nvidia (NVDA), Amazon (AMZN) and Google (GOOGL).
Ultimately, analysts at Morgan Stanley argued, "on average, stocks appear to experience a technical pull higher when active ownership is much lower than the market, and vice versa."
That, Morgan Stanley analysts said, resulted in the spread between Apple's S & P 500 weighting and active ownership widening by 91 basis points sequentially, to 2.21%.
Persons:
Morgan Stanley, Apple, Apple's, Morgan Stanley's, Jim Cramer, Jim, Jim Cramer's, Justin Tallis
Organizations:
Apple, Microsoft, Nvidia, Google, Oracle, Meta, CNBC, Facebook, Getty
Locations:
Apple's, India, EU