Why Are Investors Piling Into These Surging Stocks Today?

Apple Inc. (NASDAQ:AAPL) may be the largest company by market capitalization in the world, but it can still rally hard. Shares of the company have grown by 3% as the broader market recovers after two days of losses. Given its hundreds of billions of dollars on its balance sheet and its 10.67 forward P/E, Apple is dirt cheap. Seeing as Apple buys back tens of billions of dollars worth of its own stock every quarter, it’s not hard to see Apple trading for analysts’ consensus price target of $148 per share or higher in a year’s time. According to our extensive database, 133 elite funds were long Apple Inc. (NASDAQ:AAPL) at the end of the third quarter, with David Einhorn’s Greenlight Capital among them with a holding of more than 11 million shares.

Last but not least, Newmont Mining Corp (NYSE:NEM) is 7% in the green as gold prices try to break their intermediate-term downtrend. Gold contracts are 2% higher today as investors speculate lower oil prices for a longer period of time will lead to more geopolitical disturbances given today’s OPEC decision to real crude production stable. Syria is now a major military theater for almost all of the world’s major powers (except China and Japan) and any sort of crisis contagion will send gold prices higher. A total of 37 funds we track reported stakes in Newmont Mining Corp (NYSE:NEM) in the last round of 13F filings.

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