Two Ways To Play: Apple Proves Juicier, More Delicious Than BlackBerry
Strengthen your portfolio in good times and bad.
According to Bloomberg, Apple (AAPL) sold over 10 million iPhones, reaching its stated goal 3 months ahead of schedule. CEO Steve Jobs called the number of iPhone shipments a "milestone" and boasted that "Apple beat RIMM." Fourth-quarter profits came in at $1.26 per share on revenues of $7.9 billion.
Looking ahead to next quarter, the company expects to earn $1.06 to $1.35 a share with revenues in the $9 to $10 billion range. Shares rose as high as 11% in early trading. Toddo mentioned Apple yesterday in Toddo on TV.
From the Bull Pen: Apple has been trading in a range for the last few weeks. Those bullish can wait until the stock attempts to fill in the gap and approaches the $90 mark. Be conscious of resistance near $110.
From the Bear Cave: Look at Research In Motion (RIMM) attempting to form support near $50. But the challenges are great for this niche technology play. A close below that level wouldn't be a healthy sign.
Quick Check Around the World
Asian trading closed with the Hang Seng -5.50%, Nikkei -6.79%, Sensex -4.81%, Taiwan -1.62% and Shanghai -3.20%.
Glancing towards Europe, we see the CAC -2.94%, DAX -3.18%, FTSE -2.89%
As of 8:20 a.m. EST, S&P Futures are trading -30 to 930, and Nasdaq futures are -17 to 1275.
A Look At Commodities
Crude oil is trading -2.72 to 69.48. Gold is -15 to 752. Silver is -0.335 to 9.740 and copper is -11.20 to 200.70.
The dollar index is +1.611 to 85.601.
On the Radar
10:35 Crude Inventories
Click here for the full trading radar.
Happy hump day! Good luck!
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