NEW YORK (TheStreet) -- Momentum stocks have been a major focus in the stock market in 2014, and leadership has been shifting back and forth. With markets trading lower the past two sessions, it appears that investors now have their eyes on valuations.
On June 26 I wrote, "Tesla Easily Beats Amazon, Netflix in the Latest Momentum Race," but since then Apple (AAPL - Get Report) has been the best performer among the five momentum stocks I track. Apple has a 12-month trailing price-to-earnings ratio of 15.7, which is significantly lower than the other stocks on the list.
The momentum race since June 25 was clearly won by Apple, with a gain of 5.5%. Tesla (TSLA - Get Report) moved from first place to last place with loss of 7.5%. The other three had only fractional moves after my June 26 post.
We crunched the numbers to help you decide when to invest. Here are the five profiles, followed by today's "Crunching the Numbers" tables.
Apple ($95.35) is up 5.5% since June 25, setting a new 2014 intraday high at $96.80 on July 8. Apple is above all five key moving averages in our first table with a 12-month trailing P/E ratio at 15.7.
The weekly chart is positive but overbought with the five-week modified moving average at $90.66 with its split-adjusted all-time intraday high at $100.72 set in September 2012. Monthly and annual value levels are $90.23 and $81.33, respectively, with a semiannual pivot at $95.32 and weekly and semiannual risky levels at $98.12 and $102.39, respectively.
Apple reports quarterly results after the closing bell on July 22.
Amazon (AMZN) ($323.81) is down 1.1% since June 25 and remains below its 200-day SMA at $347.24. Amazon has a ludicrous P/E of 629.
The weekly chart is neutral with its five-week MMA at $324.44 with rising 12x3x3 weekly slow stochastics. An annual value level lags at $259.67 with an annual pivot at $334.95 and semiannual and weekly risky levels at $344.38 and $354.05, respectively.
Amazon reports quarterly results after the closing bell on July 24, and analysts expect the company to report a loss of 12 cents a share.
Google (GOOGL) ($578.40) is down 1.3% since June 25 and is above all five key moving averages with a P/E of 29.8.
The weekly chart is positive with its five-week MMA at $571.19. Annual value levels are $522.17 and $489.53 with a semiannual pivot at $589.86 and weekly and monthly risky levels at $614.81 and $615.68, respectively.
Google reports quarterly results after the closing bell on July 17 and analysts expect the company to report EPS of $5.16.
Netflix (NFLX) ($445.05) is up just 0.2% since June 25 after setting an all-time intraday high at $475.87 on July 2. The stock is above all five key moving averages but has an a crazy high P/E of 139.2.
The weekly chart is positive but overbought with its five-week MMA at $427.19. Semiannual value levels are $359.04 and $341.57 with a monthly pivot at $463.61 and quarterly and weekly risky levels at $472.26 and $528.22, respectively.
Netflix reports quarterly results after the closing bell on July 21, and analysts expect the company to report EPS of $1.14.
Tesla Motors ($219.07) is down 7.5% since June 25 after trading as high as $244.49 on June 30, well shy of its all-time intraday high at $265.00 on Feb.26. Tesla is below its 21-day SMA at $224.96.
The weekly chart is positive with its five-week MMA at $218.35. The 200-day SMA is $188.42 with a monthly pivot at $225.09 and quarterly and weekly risky levels at $227.65 and $249.80, respectively.
Tesla reports quarterly results on Aug. 6, and analysts expect the company to report a loss of 24 cents a share.