Premarket: Apple is red

From the Wall Street Journal’s "Bond Yields Near Three-Year Highs, Weighing on Stock Futures" in Monday's Wall Street Journal:

U.S. stock futures wavered and bond yields rose near their highest level in three years as investors prepared for a campaign of interest-rate increases from the Federal Reserve...

Treasury yields set a floor on interest rates across the economy and are a key input in financial models investors use to value stocks and other investments. Rising yields typically weigh on tech stocks in particular, because the ability to get higher risk-free returns from bonds tends to make investors less interested in companies that are valued for their more distant earnings potential.

In premarket trading, shares of Apple fell 1.8% and Twitter edged 0.6% lower.

Charts: Yahoo!Finance sees a bullish Williams %R pattern. Max pain has moved up to $170 with a call mountain at $180.

3 Comments

  1. Milenko Tanasijevic said:
    Yet another made-up report on production cuts from Nikkei this morning. What’s somewhat surprising is that the stock is still vulnerable to this kind if BS, at least in pre-market.

    0
    March 28, 2022
  2. Bart Yee said:
    So far, after the opening low, AAPL has ranged from up 0.28 to down $1.59, currently near -0.29. Seems the market isn’t much affected by or necessarily believes this so-called “production cut”. Surely there is concern and uncertainty hovering over Apple’s markets for now while the Russian-Ukraine war drags on. My sense is any demand hiccup would soon be erased by improved demand and production increases.

    Apple is not the master of supply chain for nothing.

    0
    March 28, 2022

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