Joe Terranova buys more Apple

Stock Performance & Trading Strategies - Apple's stock has increased by more than 10% in one month and is above $232 per share [1] - A trader has been buying Apple stock, taking advantage of portfolio manager repositioning, especially among growth managers [2] - The trader's target price for Apple is around $240, with a stop-loss below $222 [3][4] - The trader suggests neutralizing some recent buys if the stock falls below $222, but maintaining a longer-term position [4] Market Momentum & Tech Giants - Alpine Macro suggests that the "Mag 7" stocks are potential mania candidates due to their straight-line run-up since April 9th [5] - Meta, Google, Apple, and Nvidia are all near all-time highs [6] - NASDAQ has been hitting new highs, with Meta reaching a record high [5] Regulatory Environment & Political Factors - A shift in the relationship between Tim Cook, Apple, and the president is perceived to be beneficial for Apple's stock [5][7] - The market believes that companies can navigate antitrust concerns through deals with the White House [6] - Apple's stock surge is partly attributed to reduced attacks from administrations [7]