Enphase has sold off to the bottom of its trendline. It’s a relatively new trendline and one I expect to continue, making the stock a good opportunity for a medium-term investment horizon.
Enphase closed yesterday with a 29.44 billion market cap. Enphase has a chance of being one of the next billion-dollar companies. One of the reasons I expect Enphase to hold this bottom trendline is because it’s one of the rare tech stocks without a mega-cap that is profitable. Enphase has a 14.70% profit margin and a 17.30% operating margin. One potential risk for Enphase stock is that it is up 78.86% from its 52-week low, meaning it has risen a lot over the past year.
I wrote more recently on Mastodon regarding my thoughts on Enphase for anyone interested.
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