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Pro Analysis

Bullishness on Apple spiking: Social media data

Apple CEO Tim Cook
Josh Edelson | AFP | Getty Images
Apple CEO Tim Cook

While the tech pundits gave the iPhone 7 release a tepid reaction, investors putting real money at risk cheered. Shares of Apple saw a spike in bullish mentions on Twitter in the past week after the company announced the new version of the smartphone last Wednesday.

Social Market Analytics, which scans posts on social networks to form predictive trading signals, found that the tech giant had among the five-biggest increases in bullish sentiment among major U.S. stocks in the last five trading days.

Apple shares followed the jump in bullishness, reaching a new nine-month high Wednesday. The stock is now up 6 percent for the month versus the S&P 500's negative 2 percent return as of midday trading.

The investor enthusiasm for the iPhone7 is so far proving the tech media wrong as carriers released better-than-expected iPhone 7 preorder data this week. To be sure, the major U.S. wireless carriers are offering aggressive trade-in promotions for the new model so it's not yet certain who will ultimately be correct as to whether the new phone is a game changer for the stock.

Below are the other four stocks seeing the biggest one-week jump in bullish sentiment on Twitter, according to SMA.