Premarket: Apple is green, breaks $360 on WWDC20

apple premarket green 6-23From Investor’s Business Daily’s “Dow Jones Futures Whipsaw Higher After Trump Adviser Peter Navarro’s China Trade Deal Statements” posted early Tuesday:

Dow Jones futures rose early Tuesday, along with S&P 500 futures and Nasdaq futures, the White House clarified that the China trade deal is on. DJIA futures dived Monday eveningafter White House trade official Peter Navarro said the China trade deal is “over.” But DJIA futures erased losses in whipsaw action as Navarro said he wasn’t saying that the U.S. would break off the phase-one trade accord. President Donald Trump said the China deal is “fully intact.”…

The stock market rally had powered higher despite soaring new coronavirus cases in the U.S. and worldwide. Apple and AAPL stock were in focus Monday, as the Dow Jones tech giant kicked off its World Wide Developers event. As expected, Apple said it will move toward using in-house chips for its Mac computers, replacing Intel (INTC) processors.

My take: Neither COVID nor Navarro could hold Apple down.

5 Comments

  1. Romeo A Esparrago Jr said:
    Thumbs up on your take, Mr. Philip.
    Ms. Market seems to have liked the WWDC20’s announcements. 364.68 pre-market as of 7:12am Texas time.
    Today’s the day to watch the actuals dance. 🙂

    1
    June 23, 2020
  2. Jerry Doyle said:
    I’ve read different articles on the switch to Apple’s new silicon chip. While some Apple Mac units will have them by the end of the year others still will have Intel chips. What I am reading says the total transitioning to silicon chips will take two years, until 2022. The markets prices in the future more than the present. So, this is one of the reason why we see the stock popping once again this morning.

    1
    June 23, 2020
  3. Romeo A Esparrago Jr said:
    12:08pm Texas : I just looked as I take a lunch break.
    To Mr. Rod Hall : It’s Over 370.
    We’ll see how the day ends. 🙂

    1
    June 23, 2020
  4. Kirk DeBernardi said:
     finally gets the market respect it has long needed/deserved.

    After yesterday’s presentation, the unique breadth, solidarity and utility of what Apple will offer in the future won’t (can’t?) be matched by competitors.

    Seems like, after having to be coaxed into purchasing Apple, Warren Buffett’s “moat” concept now firmly applies.

    The future looks bright. Congrats to all you Longs.

    2
    June 23, 2020

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