“U.S. stock index futures edged higher on Monday, indicating that the rally that took major indexes to record highs would continue with the latest earnings, including Apple’s much-anticipated results,” Ryan Vlastelica reports for Reuters.
“The largest U.S. company by market cap, Apple Inc (AAPL) will report after the market closes,” Vlastelica reports. “Noting that Apple shares are down slightly this year, Adam Sarhan, chief executive of Sarhan Capital in New York, said that ‘from a valuation standpoint, Apple is something of an underdog. The stock is trying to move back up after consolidating, and since it is such a large percentage of the Nasdaq, what’s good for Apple is good for the market at large.'”
Vlastelica reports, “S&P 500 futures rose 2.1 points and were above fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures added 45 points and Nasdaq 100 futures rose 7.25 points.”
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MacDailyNews Note: As usual, we’ll have Apple’s results for you as soon as they are available, right around 4:30pm EDT on Monday, October 28th and then live notes from Apple’s Q413 conference call starting at 5pm EDT.
Apple to webcast Q413 earnings release conference call on October 28th – October 8, 2013