Apples, Bombs, And Bitcoins 🔍

Did you know that Apple Inc. became the first publicly traded U.S. company to reach a $1 trillion market capitalization in August 2018?

This highlights the tech sector's massive impact on the stock market, yet the question remains: Will Apple’s dominance continue?

In this edition of our newsletter, we offer you the following:

• What Does Technical Analysis Say About Apple Stock: First, we’ll dissect the technical analysis of Apple stock, highlighting the crucial $170 support level 💻

• Whistling Past The Iranian Nuclear Program: Next, we’ll explore how the Iranian nuclear program poses a shadow over Middle Eastern geopolitics, affecting global market sentiments ☢️

• Is Bitcoin Digital Gold: Finally, we compare the traditional haven of value with the cryptocurrency phenomenon to guide your treasure hunt 💰

Join us as we chart a course through these financial waters, arming you with the knowledge to sail towards success.

What Does Technical Analysis Say About Apple Stock? 💻

Apple has to hold the $170 level, something that it is struggling to maintain.

If that level breaks, it would likely be a longer-term setback for the stock.

Secondary support is approximately at the $160 level.

This is something investors can watch out for 👀

Some technicians say that If Apple stock breaks below $165, it will go to $130—where shares traded at in 2021.

The $130 level would leave Apple trading for about 20 times estimated earnings—a similar multiple to the S&P 500 📊

Whistling Past The Iranian Nuclear Program ☢️

The Iranian nuclear program hasn’t gone away, even if the Biden Administration would rather pretend it has.

Iran’s nuclear ambitions loom over the chaos in the Middle East today.

What is President Biden willing to do about it?

Not much.

Instead of acting, the U.S. issued one more toothless warning ☝️

The three European powers–Britain, France and Germany–were pushing for a resolution of censure from the International Atomic Energy Agency, but the United States did not want to risk further diplomatic escalation with Iran.

The more Iran escalates via its proxies across the Middle East, the more leeway it receives on its nuclear program from a distracted Biden Administration.

When a mild move such as censure is considered a bridge too far, you know the incentive structure for Iran is all wrong.

After its proxies have started a war against Israel, fired on and killed U.S. troops, and almost shut down an international waterway, Iran still seems to have little to fear.

Maybe it’s time someone made Iran fear escalation more than Biden does 😱

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Is Bitcoin Digital Gold? 💰

For those who hold Bitcoin, let’s hope not.

Despite brief rallies, the average annual returns for gold far lag stocks and bonds.

Gold hasn’t always been the store of value people hoped it would be.

Over the last century, gold has risen around just 1% per year, on average.

A $10,000 investment in the S&P 500 on March 5, 2014—a decade ago—would be worth around $32,700 today 💲💲💲

Over that same time frame, an equivalent investment in gold would have only grown to roughly $14,700, according to data provided by Morningstar Direct.💲

For the Bitcoin advocates, on second thought, maybe gold isn't your best comparison after all 🤷🏻

Inner Circle Macro Update 🔍

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