Premarket: Apple was red, turned green

apple premarket red 10-27-21From the Wall Street Journal’s “Stock Futures Wobble Ahead of Coca-Cola, McDonald’s Earnings” posted early Wednesday:

Stocks were poised to waver around record highs as investors awaited results from more of the biggest U.S. companies…

Solid quarterly earnings from American corporations have quelled the investor concerns about supply-chain problems, inflation and Chinese economic growth that rattled markets at the start of fall. The S&P 500 is up 6.2% for October and on course for its biggest monthly advance since November.

“Investors got fairly gloomy in September, clearly against the backdrop of all sorts of macro concerns,” said Paul O’Connor, head of the multiasset team at Janus Henderson Investors. “The broader story from results is that companies are managing these dynamics pretty well, and also managing expectations fairly well.”

Money managers still have worries, ranging from the fate of President Biden’s infrastructure and social-spending plans to the potential unwind of Federal Reserve stimulus measures that have goosed markets since early 2020. For now, though, many investors say they are sticking with stocks in the expectation of modest if bumpy returns through the end of the year.

Patterns: Engulfing line (bearish) spotted. Max pain has moved to $147, up from $146 yesterday.

apple premarket red 10-27-21

6 Comments

  1. bas flik said:
    with a multiple of 29 apple looks undervalued compared to microsofts 40.
    aapl eps 2021 = 5,7
    p/e = 29
    value = 165
    p/e = 40
    value = 228

    apple looks really cheap at the moment.

    2
    October 27, 2021
  2. bas flik said:
    They say the street under appreciate hardware. more hardware is less p/e. one can question than if Tesla is hardware.

    0
    October 27, 2021
    • Troy Thoman said:
      How are supplies of iPhone 13s holding out? And color on asp?

      0
      October 28, 2021

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