“One would think that with all the negative commentary floating around the iPhone X, shares of Apple Inc. would be struggling,” Michael Kramer, financial writer and portfolio manager, writes for Investopedia. “But that has hardly been the case with the stock trading higher by about 12% over the past three months.”
“In fact, shares of Apple have been performing so well that the stock is about to have a significant technical breakout,” Kramer writes, “which could send shares of the stock as high as the psychologically important $200 mark, a rise of about 14%.”
“Options traders are betting on a significant rise in shares with bets that take the stock above $200 by expiration on June 15,” Kramer writes. “The market is speaking loud, and for the most part, it seems to suggest it just does not believe all the conjecture about weak iPhone demand.”
Read more in the full article here.
MacDailyNews Take: The (minor) after-Christmas AAPL sale is over. Did you pick up any?
SEE ALSO:
Reports of Apple cutting iPhone X orders make no sense – January 2, 2018
Apple stock tumbles on one poorly-sourced report of low iPhone X demand – December 26, 2017
Apple and suppliers shares drop on report of weak iPhone X demand – December 26, 2017
“… it seems to suggest it just does not believe all the conjecture about weak iPhone demand.”
Some of us never fell for that conjecture in the first place.
AAPL may be poised to blow past $191.80, which is the share price it will have to reach to achieve a $1 trillion market cap.
I always have to wonder why there is always so much negative commentary about Apple. It doesn’t seem to exist for any of the FANG stocks or Microsoft. Why is it that their futures are always seen as so bright with no clouds in sight. I’d always thought all companies had some weaknesses, but I must be wrong about that.
Apple is soon going to have around $200B of cash to play around with and yet Wall Street treats that amount of cash as though it were nothing special. That’s a rather inordinate amount of cash for any healthy company. Although it would be nice for Apple to reach and maintain a $1T market cap, I’m much more focused on dividend increases because I rely on them every quarter.
Michael Kramer is half right.
Historically, in positive sentiment periods, AAPL rises an average of 13.71% from the day after January earnings to the day of April earnings.
His June expiry date is off one quarter.
I hold:
180 APR $180/$190 Call Spreads
280 APR $185/$190 Call Spreads
375 APR $195/$200 Call Spreads
My portfolio (exclusively AAPL options) is up 977% since February 1, 2017. Part of my success is directly due to entirely ignoring Ming Chi Kuo. Kuo is a malicious fabricator of dishonest, incorrect “research notes” based on nothing real.
I would not be surprised at all to find that he is indirectly in the employ of US brokerages. As a citizen and resident of Taiwan his research notes are NOT governed by the US SEC. He can say whatever he wants with impunity.
Yes!