Premarket: Market is red, Apple is green

From MorningStar’s “Stock Futures Waver With Tech Earnings in Focus” posted early Wednesday:

Investors were gearing up for one of the busiest days of the quarterly earnings season, with AT&T, Blackstone and Boeing set to report ahead of the opening bell. Earnings from tech giants Apple, Facebook and Tesla are due just after the market closes. Investors are eager to see how those companies have fared during a quarter marked by continued lockdowns and stay-at-home orders.

“The bar for tech stocks to beat is quite high because we were still in lockdown and yet they do seem to be doing well relative to those higher expectations,” said Hani Redha, a portfolio manager at PineBridge Investments.

Shares of Microsoft gained 3.1% ahead of the opening bell after the company reported record quarterly sales Tuesday. Its shares closed at a new high Tuesday…

Earnings have pleased the market so far and investors continue to bet on economic support from the Federal Reserve and a possible stimulus plan from the Biden administration. On Tuesday, the S&P 500 hit a new intraday high before slipping in the final minutes of trading.

“The Fed and the new Biden stimulus plans — it’s all a very positive backdrop for the equity market,” said Brian Walsh, Jr., a portfolio manager at Walsh & Nicholson Financial Group. “They are saying we aren’t going to let the markets fail right now and, with bond yields as low as they are, there is nowhere else to be.”

My take: Apple reports its Q1 earnings after the bell today. Shares have closed at record highs four trading days in a row.


  1. Jerry Doyle said:
    Apple’s performance is at historical epochal levels and this performance will be reflected in today’s revenues & earnings. Hold your breath, Apple’s Q2 performance will be at a commensurate level of eye popping numbers. It doesn’t end there though. Apple is moving into a renewed period of revival, a rebirth that carries us forward in the coming years to that appropriate descriptive Daniel Ives used Saturday; a renewed Apple renaissance. Apple is and remains as much a growth stock today as it became when Steve returned in the summer of 1997. Laissez le bon temps rouler!

    January 27, 2021
  2. Bart Yee said:
    I think we’re seeing some profit taking and sector rotation as earnings are coming in. DIS, BA, NKE, NFLX, GOOGL, GE, PFE, BIDU, SBUX, SWKS are all down this morning while MSFT and AAPL are positive on earnings buzz. Wonder if powder is being dried for AAPL’s earnings this afternoon? Could be quite a pop if earnings are very good and way above consensus.

    January 27, 2021
  3. John Konopka said:
    Briefly I saw AAPL down over $4 after hours. Maybe a lot of profit taking? Still waiting for earnings announcement.

    January 27, 2021

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