Will Apple become a safe haven in the banking space?
With these types of major simple moving average crosses, Apple has a robust momentum moving forward from a technical analysis point of view. If a recession does show itself, just like in the 2008 financial crisis, Apple could be considered a haven trade. Also, AAPL could be looked upon as a potential bank in a strange way. As Apple Pay seems to dominate the financial space with Goldman Sachs backing the company, it is quite possible this could be an accidental growth driver for Apple. This may be true when you look at the banking crisis that is currently unfolding.
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