AAPL's Market Cap Increase Today Was Bigger Than The Entire Market Cap Of 300 S&P500 Companies

AAPL stock roared 2.4% higher today - exactly a year after the company pre-announced earnings downgrades...

Source: Bloomberg

Today was AAPL's best day since Nov 1st...

...and the stock is now its most overbought since Sept 2018...

Source: Bloomberg

Since pre-announcing the lowered earnings expectations AAPL has added an incomprehensible $660 billion in market cap (adding over a stunning $31 billion in market capitalization today alone)...

Source: Bloomberg

That is more market cap added today than the total market cap of 300 S&P 500 companies...

  1. Zimmer Biomet Holdings, Inc.     30,787
  2. The Hershey Company     30,707
  3. Paychex, Inc.     30,484
  4. YUM! Brands, Inc.     30,467
  5. IHS Markit Ltd.     30,214
  6. Consolidated Edison, Inc.     30,075
  7. Equity Residential     30,050
  8. TransDigm Group Incorporated     29,987
  9. IQVIA Holdings Inc.     29,981
  10. Public Service Enterprise Group Incorporated     29,863
  11. HP Inc.     29,863
  12. eBay Inc.     29,376
  13. AvalonBay Communities, Inc.     29,222
  14. WEC Energy Group, Inc.     29,093
  15. State Street Corporation     28,763
  16. The Williams Companies, Inc.     28,750
  17. Republic Services, Inc.     28,605
  18. T. Rowe Price Group, Inc.     28,471
  19. Southwest Airlines Co.     28,408
  20. KLA Corporation     28,114
  21. AutoZone, Inc.     28,106
  22. Royal Caribbean Cruises Ltd.     27,988
  23. Cintas Corporation     27,904
  24. Motorola Solutions, Inc.     27,609
  25. Eversource Energy     27,542
  26. PACCAR Inc     27,359
  27. SBA Communications Corporation     27,136
  28. Cummins Inc.     27,077
  29. Edison International     27,042
  30. Discover Financial Services     26,588
  31. Agilent Technologies, Inc.     26,462
  32. Parker-Hannifin Corporation     26,441
  33. FirstEnergy Corp.     26,259
  34. Centene Corporation     26,015
  35. Willis Towers Watson Public Limited Company     25,964
  36. ViacomCBS Inc.     25,962
  37. PPL Corporation     25,942
  38. Archer-Daniels-Midland Company     25,802
  39. Fortive Corporation     25,652
  40. Stanley Black & Decker, Inc.     25,194
  41. Pioneer Natural Resources Company     25,074
  42. Microchip Technology Incorporated     25,026
  43. Digital Realty Trust, Inc.     24,992
  44. FleetCor Technologies, Inc.     24,969
  45. DTE Energy Company     24,949
  46. McKesson Corporation     24,924
  47. Twitter, Inc.     24,834
  48. Xilinx, Inc.     24,586
  49. Verisk Analytics, Inc.     24,472
  50. Aptiv PLC     24,245
  51. Hormel Foods Corporation     24,122
  52. Realty Income Corporation     23,997
  53. Alexion Pharmaceuticals, Inc.     23,933
  54. Entergy Corporation     23,852
  55. Kellogg Company     23,590
  56. Rockwell Automation, Inc.     23,479
  57. Synchrony Financial     23,269
  58. Chipotle Mexican Grill, Inc.     23,268
  59. The Kroger Co.     23,209
  60. Cerner Corporation     23,052
  61. Fox Corporation     22,830
  62. AMETEK, Inc.     22,800
  63. Best Buy Co., Inc.     22,721
  64. VeriSign, Inc.     22,622
  65. McCormick & Company, Incorporated     22,572
  66. Northern Trust Corporation     22,510
  67. Weyerhaeuser Company     22,503
  68. M&T Bank Corporation     22,403
  69. IDEXX Laboratories, Inc.     22,400
  70. Corning Incorporated     22,389
  71. United Airlines Holdings, Inc.     22,291
  72. ResMed Inc.     22,283
  73. Dollar Tree, Inc.     22,258
  74. American Water Works Company, Inc.     22,208
  75. Corteva, Inc.     22,123
  76. ANSYS, Inc.     22,030
  77. Align Technology, Inc.     21,992
  78. The Hartford Financial Services Group, Inc.     21,903
  79. Discovery, Inc.     21,894
  80. MSCI Inc.     21,870
  81. Fifth Third Bancorp     21,815
  82. Ventas, Inc.     21,522
  83. Halliburton Company     21,480
  84. Boston Properties, Inc.     21,316
  85. Fastenal Company     21,192
  86. Ball Corporation     21,156
  87. Copart, Inc.     21,139
  88. Ameriprise Financial, Inc.     21,105
  89. Synopsys, Inc.     20,955
  90. Skyworks Solutions, Inc.     20,595
  91. CDW Corporation     20,523
  92. Hewlett Packard Enterprise Company     20,506
  93. Hess Corporation     20,357
  94. CBRE Group, Inc.     20,077
  95. KeyCorp     19,936
  96. Essex Property Trust, Inc.     19,881
  97. First Republic Bank     19,793
  98. Cadence Design Systems, Inc.     19,462
  99. D.R. Horton, Inc.     19,456
  100. Keysight Technologies, Inc.     19,340
  101. Mettler-Toledo International Inc.     19,320
  102. The Clorox Company     19,270
  103. Vulcan Materials Company     19,058
  104. Freeport-McMoRan Inc.     19,036
  105. Ameren Corporation     18,895
  106. Western Digital Corporation     18,876
  107. Incyte Corporation     18,809
  108. Alexandria Real Estate Equities, Inc.     18,606
  109. DISH Network Corporation     18,547
  110. Garmin Ltd.     18,546
  111. Fortinet, Inc.     18,260
  112. W.W. Grainger, Inc.     18,235
  113. International Paper Company     18,057
  114. CMS Energy Corporation     17,835
  115. Arthur J. Gallagher & Co.     17,763
  116. Citizens Financial Group, Inc.     17,654
  117. Omnicom Group Inc.     17,641
  118. Nasdaq, Inc.     17,555
  119. AmerisourceBergen Corporation     17,508
  120. Martin Marietta Materials, Inc.     17,478
  121. Concho Resources Inc.     17,467
  122. Teleflex Incorporated     17,428
  123. Amcor plc     17,375
  124. Lennar Corporation     17,302
  125. Church & Dwight Co., Inc.     17,262
  126. Cincinnati Financial Corporation     17,179
  127. MGM Resorts International     17,134
  128. Nucor Corporation     17,065
  129. Healthpeak Properties, Inc.     17,061
  130. Equifax Inc.     16,966
  131. Dover Corporation     16,743
  132. Conagra Brands, Inc.     16,663
  133. Baker Hughes Company     16,656
  134. Maxim Integrated Products, Inc.     16,645
  135. WellCare Health Plans, Inc.     16,619
  136. Regions Financial Corporation     16,553
  137. Laboratory Corporation of America Holdings     16,426
  138. Tiffany & Co.     16,036
  139. NortonLifeLock Inc.     15,905
  140. The Cooper Companies, Inc.     15,763
  141. Expedia Group, Inc.     15,668
  142. Seagate Technology plc     15,631
  143. Loews Corporation     15,613
  144. Huntington Bancshares Incorporated     15,574
  145. Arista Networks, Inc.     15,540
  146. Genuine Parts Company     15,435
  147. Principal Financial Group, Inc.     15,272
  148. Kansas City Southern     15,181
  149. Old Dominion Freight Line, Inc.     15,149
  150. Live Nation Entertainment, Inc.     15,061
  151. Waters Corporation     15,055
  152. Mid-America Apartment Communities, Inc.     15,041
  153. Wabtec Corporation     14,913
  154. Campbell Soup Company     14,908
  155. Diamondback Energy, Inc.     14,899
  156. Celanese Corporation     14,882
  157. Wynn Resorts, Limited     14,835
  158. Evergy, Inc.     14,834
  159. Cardinal Health, Inc.     14,794
  160. Ulta Beauty, Inc.     14,470
  161. Hasbro, Inc.     14,452
  162. Citrix Systems, Inc.     14,441
  163. CenturyLink, Inc.     14,402
  164. Quest Diagnostics Incorporated     14,384
  165. MarketAxess Holdings Inc.     14,377
  166. CarMax, Inc.     14,360
  167. NetApp, Inc.     14,207
  168. Xylem Inc.     14,188
  169. Broadridge Financial Solutions, Inc.     14,163
  170. NVR, Inc.     14,072
  171. Akamai Technologies, Inc.     13,959
  172. Leidos Holdings, Inc.     13,858
  173. Hologic, Inc.     13,828
  174. Gartner, Inc.     13,785
  175. International Flavors & Fragrances Inc.     13,776
  176. Zebra Technologies Corporation     13,774
  177. CenterPoint Energy, Inc.     13,696
  178. UDR, Inc.     13,686
  179. Extra Space Storage Inc.     13,679
  180. Atmos Energy Corporation     13,676
  181. Qorvo, Inc.     13,503
  182. Darden Restaurants, Inc.     13,365
  183. Arconic Inc.     13,322
  184. Host Hotels & Resorts, Inc.     13,304
  185. Cboe Global Markets, Inc.     13,293
  186. Expeditors International of Washington, Inc.     13,287
  187. Masco Corporation     13,284
  188. The AES Corporation     13,212
  189. Alliant Energy Corporation     13,152
  190. Take-Two Interactive Software, Inc.     13,134
  191. IDEX Corporation     13,082
  192. Franklin Resources, Inc.     12,968
  193. SVB Financial Group     12,946
  194. FMC Corporation     12,938
  195. STERIS plc     12,923
  196. Varian Medical Systems, Inc.     12,910
  197. Duke Realty Corporation     12,744
  198. W. R. Berkley Corporation     12,692
  199. Vornado Realty Trust     12,692
  200. DENTSPLY SIRONA Inc.     12,586
  201. Lamb Weston Holdings, Inc.     12,566
  202. Universal Health Services, Inc.     12,564
  203. American Airlines Group Inc.     12,564
  204. United Rentals, Inc.     12,534
  205. J.B. Hunt Transport Services, Inc.     12,446
  206. Norwegian Cruise Line Holdings Ltd.     12,427
  207. Raymond James Financial, Inc.     12,410
  208. Jacobs Engineering Group Inc.     11,970
  209. Noble Energy, Inc.     11,881
  210. The J. M. Smucker Company     11,877
  211. Lincoln National Corporation     11,704
  212. Molson Coors Beverage Company     11,691
  213. Allegion plc     11,572
  214. Globe Life Inc.     11,397
  215. Everest Re Group, Ltd.     11,290
  216. The Western Union Company     11,228
  217. Jack Henry & Associates, Inc.     11,207
  218. WestRock Company     11,081
  219. Tractor Supply Company     11,062
  220. Advance Auto Parts, Inc.     11,027
  221. LKQ Corporation     10,941
  222. Avery Dennison Corporation     10,924
  223. Marathon Oil Corporation     10,863
  224. Rollins, Inc.     10,858
  225. PerkinElmer, Inc.     10,788
  226. Eastman Chemical Company     10,778
  227. C.H. Robinson Worldwide, Inc.     10,577
  228. Regency Centers Corporation     10,572
  229. Packaging Corporation of America     10,520
  230. PulteGroup, Inc.     10,515
  231. NiSource Inc.     10,400
  232. CF Industries Holdings, Inc.     10,380
  233. Mylan N.V.     10,374
  234. Comerica Incorporated     10,343
  235. Huntington Ingalls Industries, Inc.     10,261
  236. Textron Inc.     10,181
  237. E*TRADE Financial Corporation     10,160
  238. Pinnacle West Capital Corporation     10,109
  239. NRG Energy, Inc.     10,001
  240. Devon Energy Corporation     9,975
  241. Henry Schein, Inc.     9,791
  242. Mohawk Industries, Inc.     9,768
  243. Federal Realty Investment Trust     9,722
  244. National Oilwell Varco, Inc.     9,665
  245. DXC Technology Company     9,623
  246. Apache Corporation     9,623
  247. DaVita Inc.     9,612
  248. TechnipFMC plc     9,585
  249. Whirlpool Corporation     9,324
  250. Snap-on Incorporated     9,291
  251. Under Armour, Inc.     9,200
  252. Iron Mountain Incorporated     9,151
  253. Fortune Brands Home & Security, Inc.     9,092
  254. BorgWarner Inc.     8,958
  255. The Interpublic Group of Companies, Inc.     8,957
  256. Zions Bancorporation, National Association     8,851
  257. Ralph Lauren Corporation     8,747
  258. Kimco Realty Corporation     8,744
  259. Coty Inc.     8,526
  260. F5 Networks, Inc.     8,490
  261. News Corporation     8,394
  262. Alaska Air Group, Inc.     8,345
  263. Juniper Networks, Inc.     8,244
  264. The Mosaic Company     8,196
  265. Invesco Ltd.     8,161
  266. Newell Brands Inc.     8,138
  267. HollyFrontier Corporation     8,124
  268. Kohl's Corporation     7,977
  269. Xerox Holdings Corporation     7,971
  270. Assurant, Inc.     7,948
  271. A. O. Smith Corporation     7,771
  272. Albemarle Corporation     7,745
  273. Pentair plc     7,710
  274. Abiomed, Inc.     7,703
  275. IPG Photonics Corporation     7,691
  276. Apartment Investment and Management Company     7,690
  277. PVH Corp.     7,672
  278. People's United Financial, Inc.     7,498
  279. Tapestry, Inc.     7,442
  280. SL Green Realty Corp.     7,361
  281. Nielsen Holdings plc     7,223
  282. Robert Half International Inc.     7,202
  283. Cabot Oil & Gas Corporation     7,102
  284. Perrigo Company plc     7,031
  285. FLIR Systems, Inc.     6,985
  286. Leggett & Platt, Incorporated     6,689
  287. The Gap, Inc.     6,600
  288. Flowserve Corporation     6,513
  289. Nordstrom, Inc.     6,355
  290. Sealed Air Corporation     6,154
  291. Unum Group     6,015
  292. Quanta Services, Inc.     5,794
  293. Capri Holdings Limited     5,785
  294. Harley-Davidson, Inc.     5,668
  295. Hanesbrands Inc.     5,371
  296. Macy's, Inc.     5,252
  297. Cimarex Energy Co.     5,250
  298. Alliance Data Systems Corporation     5,168
  299. L Brands, Inc.     5,010
  300. Helmerich & Payne, Inc.     4,927
  301. H&R Block, Inc.     4,584

So bulls must be hoping that Tim Cook downgrades earnings expectations again this quarter!!

And while it's all shits and giggles for the bulls, we do note that AAPL's volatility is rising...

Source: Bloomberg

Hedgers? Or leveraged longs panicking into the "can't lose, won't lose" stock?