“Apple (AAPL) hasn’t been acting like itself lately. The stock has been on a tear for the last couple of weeks, handily besting the S&P 500 almost every single trading day,” Geordy Wang writes for Seeking Alpha. “This by itself isn’t strange – Apple’s old hands are used to consistent outperformance by now. What is strange is that this large updraft is coming on the heels of the company’s latest earnings release, which already propelled the stock up over 6% on the day of the announcement.”
Wang writes, “Apple’s movement around earnings day has been somewhat predictable in the past… This time has been different. The first two stages were the same: slow crawl before earnings, then an earnings-driven spike to new heights. But Apple didn’t stop for a breather this time. Despite respected analysts like Seeking Alpha’s own Jason Schwarz calling for a short-term pullback in the stock at $450, Apple continued its breakneck ascent, closing yesterday at $493. What’s going on?”
” My best guess for Apple’s unprecedented post-earnings scramble is this: Apple’s next shareholder meeting is coming up on February 23rd, the stock’s biggest investors are expecting the company to announce a dividend at last, and they’re buying, buying, buying,” Wang writes.
Read more in the full article here.
[Thanks to MacDailyNews Reader “Jim L.” for the heads up.]