'You can add options to this past equity investor.'
Currently the equity market continues to be attacked by 'bears' with the overall sentiment remaining negative due to the increase in interest rates.
However, Apple shares continue to be the choice of market analysts with the company being one of the tech giants that has experienced less decline in performance this year.
However, Elon Musk's electric car (EV) company Tesla Inc emerged as a new contender as its shares showed resilient performance despite macroeconomic conditions affecting equity markets.
In comparison the overall performance of the FAANG* technology giants collapsed with Apple falling 15% while Microsoft Corp, Alphabet Inc and Amazon.com Inc declined 29% while Tesla was only down 22%.
*Facebook, Amazon, Apple, Netflix and Google.
According to chief market strategist Wiley Angell, the factor that makes Apple and Tesla resilient is that they take advantage of fund flows that track major indexes and are not tied to the business cycle.
He explained that they do not need to worry about the recession nor be affected by interest rate movements by the Federal Reserve (Fed).
In addition, the factors where Tesla is still in the development space and Apple that continues to receive a large amount of revenue from subscriptions have led to their resilient performance in the market.
It's worth noting that although Apple and Tesla are currently the companies with the largest market capitalizations, at $2.4 trillion and $862 billion, respectively, both measure performance on a different basis.
Tesla has strong revenue growth but lacks profitability while Apple relies on sales with net income reaching $100 billion this fiscal year.
Meanwhile, a survey from Vanda Research found that Tesla and Apple shares continued to be popular choices among retail traders and small investors in the last 5 days.
