Premarket: Apple is green

apple premarket green 9-21-21From the Wall Street Journal’s “U.S. Stock Futures Bounce After Global Market Selloff” posted early Tuesday:

Stock futures rose Tuesday, suggesting markets were poised to rebound a day after concerns about China’s property sector helped fuel a global selloff in stocks and commodities…

Global stocks have slid this week on concerns about a potential default of property giant China Evergrande Group. Despite the stronger tone Tuesday, investors remain concerned about the knock-on effects Evergrande’s debt crisis could have on China’s already flagging economic growth.

“Evergrande is not an isolated incident,” said Dave Wang, a portfolio manager at Nuvest Capital in Singapore. “There are, and will be, more property developers defaulting.” Given the sector’s contribution to the economy, “markets are pricing in the possible contagion impact,” he said.

My take: Anybody take advantage of yesterday’ buying opportunity?

6 Comments

  1. Gregg Thurman said:
    My take: Anybody take advantage of yesterday’ buying opportunity?

    I bought more than than my strategy’s indicated allotment of SEPT 24 $139/$140 Call Spreads at 78c (inc fees). AAPL was trading at ~$142.40 at the time. As it turned out I paid 5c too much, but I’m happy. Anticipated ROI is ~27% for the week.

    1
    September 21, 2021
  2. Dan Scropos said:
    Chinese consumers have pre-ordered millions of the new iPhone 13 across the country’s multiple e-commerce platforms, resulting in online traffic jams and viral social media discussions.

    Cupertino-based Apple last Friday opened pre-orders for its new iPhone line – the iPhone 13, iPhone 13 mini, iPhone 13 Pro and iPhone 13 Pro Max – and the launch has proved an instant hit with Chinese consumers. The new smartphones will start to be delivered in China on September 24.

    The number of pre-orders across multiple third-party e-commerce platforms was estimated by Chinese state media to have exceeded 5 million on Friday, with JD.com alone receiving more than 3 million pre-orders.

    2
    September 21, 2021
  3. Gregg Thurman said:
    My preferred iPhone 13 is the Pro Max 256 Mb. If ordered today it delivers the week of October 20, a month out.

    How long before we reach Supply/Demand parity?

    0
    September 21, 2021
  4. Jerry Doyle said:
    iOS 15 is superb! It truly is impressive how Apple through successive iterations of its hardware and software continues to make the entire tech experience ever more enjoyable. I may not be able daily to enjoy the hints of caramel, nuts, & dark cherries from the smooth sip of a bottled Michter Sour Mash Bourbon, but I can afford myself the enthrallment of using daily my new iPhone 13 Pro 256GB Graphite. Life is good with  🙂

    3
    September 21, 2021
  5. Gregg Thurman said:
    Just another really dumb selloff.

    My uneducated gut tells me it’s going to remain like this until Powell announces a rate hike and reduction in asset buying. After all, the market has been fearful of both moves even though it is also fearful of a slowing economy and inflation.

    Not knowing what it really wants the market will react badly to Powell’s announcement that the Fed is going to raise rates and ease asset management, a genuine case of getting what you wish for – then regretting that you did.

    1
    September 21, 2021

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