U.S. stock futures rise, led higher by Apple

“U.S. stock futures were pointing to a higher open Wednesday, as investors cheered Apple Inc.’s earnings and waited for a Federal Reserve statement due in the afternoon,” Anora Mahmudova and Victor Reklaitis report for MarketWatch.

“Apple shares gained [more than] 7% in premarket action after the iPhone maker late Tuesday posted quarterly profit that dropped from a year ago, but beat expectations,” Mahmudova and Reklaitis report. “Revenue at the world’s largest company by market value also fell, yet topped Wall Street’s forecasts.”

“On the Fed front, the U.S. central bank is expected to stand pat on interest rates as it releases a policy statement at 2 p.m. Eastern Time,” Mahmudova and Reklaitis report. “Traders want to see if Fed chief Janet Yellen and her colleagues offer any signals on the possibility of a September rate hike.”

Read more in the full article here.

MacDailyNews Take: Welcome back, mom and pop!

(Under breath)
…you fickle ignoramuses.

Apple’s earnings beat has some analysts worried it was too impressive or something – July 27, 2016
Tim Cook: Apple’s services business alone will be the size of a Fortune 100 company by next year – July 26, 2016
Apple beats Street – July 26, 2016


      1. Considering that the 7% increase now shrinks their market cap loss ‘drag’ since joining DJIA to about $188B, AAPL is still quite far from being a ‘plus’ for that Average.

  1. I agree about the Mac updates. I’ve been wanting to upgrade my rMBP and also my Mac Mini. For the rMBP the performance increase is minimal. Perhaps the issue is that the original rMBP was so well made that it is still go strong. It hasn’t helped that Intel has been dragging their feet in updating their mobile processors. However, Apple could refresh the machines more frequently and also improve the internal specs such as flash memory. It is a bit ridiculous that the base 15 inch rMBP has only 250GB drive size. That should be at least 500GB and should not cost another $300.
    For the mini, the base model is hobbled so you really have to choose the $699 model.

  2. It’s been all doom and gloom from the media I’ve read since the earnings. Heck the journalists are so primitive these days they probably think that the world is round.

    Enjoy the pizza.

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