Apple Blows Past Estimates
Jul 21, 2010 Company News, Earnings, Stock to watch
Apple (AAPL) announced bettered than expected second quarter results after the bell yesterday, sending the shares up $9.09 in pre-market trading today.
Apple reported that in the period, it had revenue of $15.7 billion, compared to revenue of $9.73 billion in the year ago second quarter period. Profit came in at $3.25 billion or $3.51 on a per share basis, compared to quarterly profit of $1.83 billion or $2.01 per share in Q2 2009. Analysts had been forecasting revenue of $14.7 billion and earnings per share of $3.11.
For the current quarter, the company is forecasting revenue of $18 billion, against analysts’ forecasts of $17 billion and earnings of $3.44 per share, against analysts’ forecasts of $3.83.
In the period, Apple sold 8.4 million iPhones, up 61 percent from last year, 3.3 million iPads, 1.7 milion of the company’s latest iPhone, which just went on the market towards the end of the quarter and 3.47 million Macs, a 33% increase and 9.41 million iPods, which was an eight percent decline in unit sales.
Apple shares are up $9.37 or 3.72% on the news in pre-market trading this morning.
More on this topic
(What's this?)
Apple Is Not Doing A Good Job
(Short-Term Trading, 7/20/10)
It's Official: Apple's iPhone4 Not Recommended by Consumers Reports
(Shocked Investor, 7/12/10)
AAPL – Apple Computer (Last:251.23)
(, 7/15/10)
Dow Gives Up 143 Points Gain
Jun 21, 2010 Stock Market, Stocks
The stock market, which started the day on a positive note, as all the major indices rallied in the early going, on news that China was going to loosen its grip on its currency and let it rise against the U.S. Dollar, gave up all its early gains and then some in late day trading, with the Dow giving up a 143.52 points gain that had been tacked on earlier.
For the day, the Dow Jones Industrial Average lost 8.23 points to close at 10,442.41, NASDAQ was off 20.71 points to end the session at 2,289.09, while the S&P 500 shed 4.31 points to close at 1,113.20. The sucker’s rally was a stark reminder of the heavy volatility in the markets of late.
Highlighting the massive volatility on the day, Dow component Caterpillar (CAT), which closed on Friday at $65.85 and opened today at $67.56 and then hit a high of $68.35 intraday, only managed a $0.22 gain on the day, to close at $66.07.
Apple (AAPL) opened at $277.75, from last Friday’s close of $274.07, hit a high of $279.01, but ended up losing $3.90, to close at $270.17.
From a technical analysis perspective, the reversal was not at all suprising. Stocks hit a near-term bottom on June 8 and have been on an upward move since then. However, in the past few sessions, the rally was losing steam, with stocks only making half-hearted moves to the upside and the charts were foretelling that it was time to take a breather.
More on this topic
(What's this?)
Timing the Market, Part III
(All Allan, 7/20/10)
Richard Russell: “A hard rain lies ahead”
(Investment Postcards from Cape Town, 7/21/10)
DJIA – Dow Industrial Average (Last:10190)
(, 6/14/10)
Tags: apple, caterpillar, Stock Market, Stocks
Apple Shares Might Be A Sell On iPad Release
Apr 5, 2010 Company News, Stock to watch
Shares of Apple (AAPL) will be in focus on Monday, with the release over the weekend, of the company’s hyped iPad. With some one day sales estimates for the iPad coming in at 600,000 to 700,000, assuming those numbers hold, the stock could see some buying on Monday, further extending recent gains that have seen the shares climb fifteen percent since the end of February.
That said, part of the reason for the recent gains in the stock, was the release of the iPad. Now that the product is out, the stock might pull back some, as stocks sometimes sell off on expected news once we get the news.
On a technical basis, the shares have slowed the pace at which they are climbing and we may have hit a near-term top. We think once the first week sales numbers for the iPad are officially in, Apple might give up some recent gains and traders can look towards taking some downside profit.
More on this topic
(What's this?)
A Few iPad Shortcomings That Could Hit Apple’s Bottom Line
(Investment U, 4/2/10)
Lee Lowell’s “Instant Money Codes”
(Stock Gumshoe, 3/30/10)
Apple Sets its Sights on iSpecs
(Wealth Daily, 4/13/10)
Stocks On The Move – 03/15/10
Mar 15, 2010 Company News, Stock to watch, Stocks On The Move
Shares of Google (GOOG) dropped $16.36 to $563.18, on concerns that the company might pull out of the Chinese market, as it doesn’t seem likely that the Chinese government is willing to give in on its censorship rules for internet companies.
Google’s shares dropped backed in January, after the company revealed that hackers had gained access to the Google email accounts of rights activist in China. The sophistication of the breach led to speculation that the Chinese government was behind the attacks, leading to concerns then that the company would give up the China market.
Google’s Chinese competitor Baidu (BIDU), rose $26.60 to $576.84 on the Google news, as it would be the most likely beneficiary of Google pulling out of the Chinese market.
CNX Gas Corporation (CXG) rallied $4.23 to $30.46 for 16.13%, after its parent company Consol Energy (CNX) said it is considering buying the CNX gas shares that it does not already own. Consol Energy was off 10% on the news, with a $5.48 decline to $48.85.
Shares of Amylin Pharmaceuticals (AMLN) were up $3.24 to $23.50, a nice gain of 15.99%, after the company revealed that the Food and Drug Administration had issued a complete response letter regarding the New Drug Application (NDA) for BYDUREON(TM) (exenatide for extended-release injectable suspension) to it and its development partners for the drug, Eli Lilly and Company (LLY) and Alkermes (ALKS).
Because the letter makes no request for new pre-clinical or clinical trials, it is assumed that the FDA is reviewing the drug favorably. LLY rose $0.08 to $36.01, while ALKS was up 41.80 to $14.01.
Business software maker Chordiant Software (CHRD) was up $1.18 to $4.99, a 30.97% gainer, on a buyout offer from Pegasystems (PEGA). Pegasystems will acquire the company for $5 per share or $161.5 million in an all cash deal.
Pegasystems rose $2.47 to $39.30 on the news. The deal is expected to close in the second quarter this year. A month ago, Chordiant rejected a $3.46 per share offer from CDC Software.
Apple (AAPL) was off $2.76 to $223.84, as technology shares came under pressure on the Google/China news.
Oil and gas producer Apache Corp (APA) was down $2.53 to $104.35 on a downgrade to Equal Weight, from Overweight by Morgan Stanley. Lower oil prices also weighed on energy shares.
The Technical Trader – Apple
Mar 7, 2010 Stock to watch, Technical Analysis, Trading Idea
Apple (AAPL) hit a new 52-week high of $219.70 on Friday, although the stock pulled back a bit, to close at $218.95. From the start of 2009, through October of that year, Apple’s stock was basically moving in a straight line upwards. Since mid October however, the shares have traded in a range, albeit a wide one, between $190 and $210, while briefly hitting a high if $215.55 on January 20.
With the move of $8.24 to $218.95, the stock finally broke above $215, which has proven to be a strong resistance area for the past two months and that could be a very bullish signal.
Should the markets look to head higher today and Apple is moving in tandem as well, we would look to buy the stock here. Of course, we would look to take early profits, as we still have a huge amount of volatility in the stock market.
If an entry opportunity is presented, we will follow through with this trade, so visit the blog often for updates.
Tags: apple, Technical Analysis
