APPLE, Down or just poised?
After the market closes today Apple will make it’s earnings announcement. We don’t need to repeat everything here—like all of the speculation, prognostications, etc. There are a few worthy items that may affect trades.
1. 4 out of six of the last quarters, Apple sold off a little after their earning’s announcements.
2. The whole market is down, primarily due to IBM’s less than stellar revenue and earnings, along with the same for UTX. Both of these are Dow components.
3. Apple is making about $1 Billion a week in NET. It’s market capitalization is about $755,000,000,000. All of those zeros. Does this say Billion? This may be the first Trillion Dollar Company.
4. We’re looking at buying more options here, probably the July 24th ones. We’re also looking at the August $135 calls.
We’ll be watching this one. Here’s the day chart. It will fill in throughout the day.