“The world’s largest company confirmed plans this week in an SEC filing to launch a so-called Samurai bond priced in Japanese yen,” Michael Newberg reports for CNBC.
“The latest offering will be the fifth bond sale for Apple since 2013. And if history is any guide, a new Apple bond could signal another leg higher for the tech giant’s stock in the coming months,” Newberg reports. “Apple has gained, on average, 19.4 percent in the six months after the issue date of its last four bond offerings, according to data from Societe Generale’s head of U.S. strategy, Larry McDonald.”
“So does news of another bond offering, which some traders expect to price as early as Thursday, mean that now is the time to buy Apple?” Newberg reports. “According to Guy Adami of Private Advisor Group, the stock looks to be setting up technically for another move higher.”
Read more in the full article here.
MacDailyNews Take: Or it’s just coincidental.