The StairmasterTM workout in Apple continues to display impressive results, as contrasted with our historic momentum comparative with oil. From our perspective, the stock has one more stair to climb through Q2 before taking another breather and consolidating its gains. While the lion's share of the performance harvest was accomplished last year, we see the position maintaining an upward bias - as well as an uncorrelated return relative to the broader equity markets (SPX & NDX).
For further reading on this concept - see some of our previous Apple notes:
The Universal Law of Gravitation