Shares of Apple and Meta Platforms may be due for even more moves to the upside despite their pullback in recent months, according to Ari Wald, head of technical analysis at Oppenheimer. Wald joined CNBC’s ” Power Lunch ” on Monday to discuss the two “Magnificent Seven” names, as well as one other stock that was surging in the day’s session along with the rest of the market. Apple Apple shares popped about 6% during Monday’s session after the U.S. and China announced that they have agreed to temporarily suspend their steep tariff rates , with the U.S. bringing its duties down to 30% on Chinese imports and China cutting its levies on U.S. goods to 10%. AAPL 1D mountain AAPL, 1-day However, the iPhone maker is weighing raising iPhone prices in the upcoming fall season, The Wall Street Journal reported Monday, citing people familiar with the matter. Most of the company’s iPhones are made in China . “We still think we are in a large-cap Growth-led secular bull market, and I think Apple benefits over the long term,” Wald said during the segment. “For that reason, looking at the stock, I think the positive is that it has paid to buy this stock when it’s ugly.” Despite the stock’s latest gains, it is still down about 16% in 2025, and Wald cautioned that he still sees some technical weakness ahead in the near term when compared to the broader market. “Still, there’s some resistance to get through pushing right into a 50-day average,” the technical analyst said. “So, not necessarily our top-ranked stock right here, right now.” Meta Platforms Fellow megacap technology stock Meta Platforms has also risen with Monday’s rally, gaining 8%. The company also has exposure to China, particularly through advertising . META 1D mountain META, 1-day While Wald thinks that Meta, similar to Apple, will benefit in the long run given his bullish market stance, he believes it “looks better from a near-term trading basis.” “I think Meta in particular, benefiting from [the] strength that we’re seeing in communication services, it’s moving up in our momentum ranks,” he also said. “Now that it’s turning higher again, our assumption is that long-term strength is resuming.” Stanley Black & Decker Shares of manufacturing company Stanley Black & Decker climbed even higher Monday than both Apple and Meta, seeing almost a 16% gain. SWK 1D mountain SWK, 1-day But Wald believes investors should view this as a chance to sell shares, as he points out that the stock is “still in a downtrend.” “We would not be chasing this,” he said. “Here’s a stock still below its key long-term moving averages, its 200-day average. And so for that reason, I prefer to sell strength.” “I want stuff that I can hold for the long run, and I don’t think this is it,” Wald continued.
