A place for Apple traders and investors to share their best ideas -- first week of fiscal Q4 edition.
To get things rolling, here's CNBC's (and my former Fortune colleague) Jon Fortt sensible arguing that the push in Congress to regulate big tech is a bad idea -- and maybe a good idea:
Below: Apple vs. the S&P 500 last week, normalized…
Disclosure: Although I am now an Apple shareholder (see Why I bought a share of Apple, my first), I am in no position to give trading advice. Don’t blame me if you drain your IRA doing something you read about here.
See also last week’s trading strategies.
My hope is that legislators and regulators will turn their attention real problems. W.r.t to Apple alone, not the big tech catch-all, there’s no victim.
A breakup or handcuffs are a win for China and other countries.
He summed it up best and IMO should have been appointed to head the FTC instead of Lina Khan. Jon gets it!
I’m not as convinced Khan is going to be as bad as many here believe. IMO, Khan got the issue with Amazon and Apple Books correct, nailing Amazon’s actions perfectly.
She has said nothing that indicates Apple is a target outside of generic “big tech”. I may be wrong and if I am I’ll submit myself to the Pollyanna room for a thorough tongue lashing.
No differently than my kindergarten finger painting qualifying me to be the curator for the Metropolitan Museum of Art. Regardless of whether she’ll good or bad for the issues involving Apple, a much more experienced 32 year old could have been appointed to head the FTC.
As a result I cancelled my Jul 2 $128/$129 order and replaced it with a Jul 2 $130/$131 Call Spread @ 69c. I’m not expecting AAPL’s Monday intraday low to decline enough to get this order filled. I’m expecting an intraday low of about $132, which means I’ll have to increase my bid to about 73c. It’s much easier to raise a bid than to lower it.
After that, except for a dip the following Tuesday we should off to the races with a month long rally. Unless of course WS, in its infinite wisdom, discounts stellar results once again.