From the Wall Street Journal’s “U.S. Stock Futures Edge Up Ahead of Fed Policy Update” posted early Wednesday:
U.S. stock futures ticked higher Wednesday as investors awaited fresh guidance from the Federal Reserve and another batch of earning reports from the nation’s biggest companies..
The stock market is hovering near all-time highs, with investors betting on strong corporate earnings, the economic rebound, and continued support from central banks’ easy monetary policies. Their optimism has been tempered in recent days by concerns about the Delta variant of Covid-19, China’s regulatory crackdown and the risk of persistently high inflation.
“There is a general fishing for direction right now,” said Aoifinn Devitt, chief investment officer at Moneta Group. “The strong underpinning of the market is that there is a lot of capital waiting on the sidelines, waiting for an opportunity to enter, and that means any corrections are very short lived.”
My take: Buy the rumor and sell the news, I guess. This was Apple’s third blowout quarter in a row, and the third to be rewarded by a sell-off. Who — or what — is making these trades?
Wise words! The stock is moving in the right direction and as of now (12:22 PDT) is over average volume. Folks are smelling a bargain. Apple will come back in the market soon and start jacking up the valuation with its massive buybacks.
Apple buying back itself was and is an incredibly brilliant idea. And Apple splitting the stock so that those of us of average wealth can join the party is as democratic as it gets….
given 40% and 30% miss i see a 20% miss for q4
so q4 will be 1,19x 1,2 = 1,428 eps
1,68+1,4+1,3+1,428 = 5,80 eps 2021
current price level of 145 = 25 multiple
not really expensive
i go buy extra shares at 125
“… 5,80 eps 2021…”
On the money! And pre-split, $23.20/share! Fricking amazing!
Also, I think they still have something like $72 B net cash. They’re barely able to move towards net zero cash. At this rate, it’ll take years – if ever….
Patience, patience, patience.
Anyone else hear Tim talking about how he doesn’t like how much they are paying for freight? If Apple were to the tire/step into logistics… an off shoot of project Titan?