TECH - Apple Nvidia Are The Most Overbought Stocks On Wall Street Amid AI Frenzy: Here Are Other Stocks With Potential For Pullback | Benzinga
Apple Inc. (NASDAQ:AAPL) has emerged as one of the most overbought stocks on Wall Street following its recent surge to record highs, driven by its foray into consumer-centric artificial intelligence (AI.)
What Happened: Apple’s stock has seen an almost 8% increase this week, following the company’s announcement of new AI features at its annual Worldwide Developers Conference.
This has propelled the stock price beyond the $200 mark, making it the second-most overbought stock on Wall Street this week, based on its 14-day relative strength index (RSI,) reported CNBC.
Apple’s RSI is now almost 83, indicating a potential slide of over 3%, according to analysts. The surge in Apple’s stock comes amid a ...