Apple could be on to a major breakthrough when it comes to blood glucose monitoring. If the tech giant is successful, it could catapult the stock and associated single-stock exchange-traded funds (ETFs).
The iPhone maker is working on a project that will allow individuals to monitor their blood glucose levels without having to puncture the skin. According to a Bloomberg article, the idea of monitoring glucose levels without the use of drawing blood is something the company has been exploring for some time.
“Apple Inc. has a moonshot-style project underway that dates back to the Steve Jobs era: noninvasive and continuous blood glucose monitoring,” Bloomberg noted.
“The goal of this secret endeavor — dubbed E5 — is to measure how much glucose is in someone’s body without needing to prick the skin for blood,” the article added further. “After hitting major milestones recently, the company now believes it could eventually bring glucose monitoring to market, according to people familiar with the effort.”
Potential for Disruption
According to Morgan Stanley, is Apple is successful in bringing this project to the masses, it has the potential for disruption. This could give Apple a growth component to its stock, which would only add to its blue chip status.
“Disruption will likely take time, but given Apple has form in displacing incumbents in fields with large [total addressable markets], we will continue to watch this technology and its speed of miniaturisation,” Morgan Stanley analysts wrote in a research note.
Despite inflation and rising interest rate woes, the stock is up about 13% for the year. Big tech has been rallying, which the sector certainly needs after last year’s market tumult.
Single-stock ETFs that focus on bullish vibes for Apple could take off, giving traders an opportunity to maximize gains. One fund to consider is the Direxion Daily AAPL Bull 1.5X (AAPU), which seeks daily investment results equal to 150% of the performance of the common shares of Apple, Inc.
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