With the stock market already trading near the 2031 fair value target of $434.98, it's a wonder how far out investors are willing to bet on S&P 500 earnings. Apple and Meta found some resistance near their average analyst targets, and now we have to figure out what comes next. For me I see t least a 50% retracement for the S&P 500, which sits around $412 per share. A strong dollar and other potential catalysts from the economic landscape could also lead to SPY falling lower. I have a fair value range between $370 and $400.
Take a listen to the Equity Channel Podcast on Apple, Amazon and Spotify for more information on trading and investing.
Take a listen to the Equity Channel Podcast on Apple, Amazon and Spotify for more information on trading and investing.