Premarket: Apple is green

From the Wall Street Journal’s "Stock Futures Inch Up on Earnings Reports" posted early Wednesday:

U.S. stock futures edged up on the back of earnings reports that were interpreted by investors as positive signals about the economy...

Stocks have swung in recent days, buffeted by earnings season which has been scrutinized for signs about how the highest inflation in more than four decades and slowing economic growth are affecting companies. Recent reports from companies such as Goldman Sachs and Citigroup came in above Wall Street’s expectations, even though both banks reported declines in profit.

“Earnings have been supportive of the narrative that growth isn’t falling off a cliff,” said Fahad Kamal, chief investment officer at Kleinwort Hambros. “It doesn’t necessarily look like a recession is coming.”

Charts: Yahoo!Finance sees a bullish slow-stochastic pattern. Max pain stays at $145 with a call mountain at $155.

12 Comments

  1. Michael Goldfeder said:
    Netflix only lost just under a million subscribers this reporting period and their stock jumps up higher than a Steph Curry 3 pointer? You have to love the market. Maybe they even become profitable at some point. But not to the tune of Apple’s FCF, divided, and buybacks.

    1
    July 20, 2022
    • Romeo A Esparrago Jr said:
      You may be right that this news might have spiked up AAPL this morning.

      From last night’s BBC article ‘Netflix loses almost a million subscribers’ by Natalie Sherman & James Clayton :

      “ The company also faces fierce competition from the likes of Apple TV, … “

      1
      July 20, 2022
    • Brian Loftus said:
      Netflix continues to be profitable. P/E – 18. FY 2021 – about $5 billion on $29.50 revenue. But if it makes you feel better – they are off 70% from their ATH earlier this year. I bought in at 193 about 2 months ago so I am happy.

      1
      July 20, 2022
  2. Romeo A Esparrago Jr said:
    Wow! AAPL jumped from 151 at 9:20a Texas time & climbed to 153 20mins afterwards.
    What caused that?.

    1
    July 20, 2022

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