Premarket: Apple is green

From the Wall Street Journal’s “Stock Futures Edge Up Ahead of Big Tech Earnings” posted early Monday:

U.S. stock futures drifted higher Tuesday ahead of earnings from more blue-chip companies and the start of the Federal Reserve’s two-day policy meeting…

A strong start to earnings season among U.S. companies and indications that the economy is rebounding have helped to lift stocks to a series of all-time highs. Still, some investors are cautious, pointing to risks stemming from elevated valuations, the potential for a jump in inflation and the raging epidemic in India.

“We’ve got a big week of tech earnings where valuations are probably a bit more stretched than in other areas,” said Stuart Rumble, investment director at Fidelity International.

Tech stocks have climbed in recent weeks, pushing the Nasdaq Composite Index to a record high on Monday for the first time since February. Mr. Rumble said he favors shares of banks and energy companies, economically-sensitive sectors that stand to benefit when coronavirus restrictions lift.

My take: Apple’s fiscal Q2 earnings drop tomorrow after the markets close. If Apple’s going to move ahead of the report, it’s running out of time.


  1. Gregg Thurman said:
    I chuckle at the way the WSJ regurgitates all the usual doom and gloom potentials: inflation, COVID-19, psoriasis, unemployment, blah, blah, blah, as though they were of real concern beyond tomorrow, and yet ignores the biggest threat of them all: the herd mentality of the market. That mentality reminds me of countless westerns when in the still of the night the herd stampedes for no apparent reason.

    April 27, 2021
  2. Gregg Thurman said:
    It would appear that WS is taking the same cautious approach to earnings that I am. For the last 3 sessions AAPL has traded in a $134/$135 Channel.

    April 27, 2021

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