Apple Inc AAPL stock is about to make a Death Cross on the technical charts. The stock is increasingly being seen as priced favorably relative to its Magnificent 7 peers.

Chart Source: Benzinga Pro

Apple Stock Offers More Value Relative To Magnificent 7 And As Part Of GOMAAM

The stock, down over 10% YTD, is trading at attractive valuation multiples relative to technology sector peers.

Related: Apple And 4 More Stocks On The Rise: Prime Reddit Picks

Redditors debating on AI also believe that Apple stock — as part of the GOMAAM stocks, buyers of AI hardware — are offering better value currently than AI hardware suppliers such as NVIDIA Corp NVDA and Advanced Micro Devices AMD.

Related: Redditor Sees More Value In These AI Stocks Than Nvidia, AMD

The GOMAAM stocks consist of Alphabet Inc GOOG GOOGL aka Google, Meta Platforms Inc META, Apple, Amazon.com Inc AMZN, and Microsoft Corp MSFT. This group also includes OpenAI.

Technical Indicator Spells Caution

A technical indicator emerged to spell caution to those looking to buy-the-dip.

The Death Cross is a technical analysis pattern in the stock market that occurs when a short-term moving average crosses below a long-term moving average. Typically, the Death Cross involves the 50-day moving average crossing below the 200-day moving average.

In the chart above, Apple stock’s 50-day simple moving average (SMA) (orange line) can be seen approaching the 200-day SMA (blue line) from above to make a Death Cross signal. This pattern is considered bearish and may suggest a potential reversal of an uptrend, indicating that a stock or market might be entering a period of decline.

Also Read:

• Apple And 4 More Stocks On The Rise: Prime Reddit Picks
• Market makers trigger a Tesla stock anomaly on Thursdays, here’s how to exploit it.