Apple has reached new all-time highs, positioning itself as a market safe haven unlike other tech stocks and growth names. The options market is pricing in a modest 3.8% post-earnings move following the quarterly report. Institutional investors were buying protective puts for August at a cost equivalent to roughly 65 basis points. Apple is currently trading at a 35x forward earnings multiple, its highest valuation since 2007, prompting strategists to recommend options strategies over direct stock purchases.
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