By Zach Scheidt
This post URGENT: 4:01pm EST Announcement appeared first on Daily Reckoning.
One of my favorite stocks is on the move this week, hitting an all-time high ahead of its earnings announcement. See if you can guess the company based just on its stock chart:
I’m sure you guessed it.
The chart is for Apple Corp. (NASDAQ:AAPL). And the sharp move over the last three days is only the beginning!
If you’re already invested in Apple, you’re in good shape right now. I’ve been pounding the table on this company and the many reasons to own shares of AAPL. Hopefully you’re currently sitting on a nice profit.
On the other hand, if you haven’t yet bought your shares of AAPL, there’s still time left — but not much…
Apple Announces Earnings Tomorrow…
Tomorrow after the market closes, Apple will release its third quarter earnings report. Following the release, there will be a conference call starting at 5:00 PM (EST).
This is perhaps the most important earnings announcement of the entire year — for the entire U.S. stock market.
That’s because Apple has a market cap (the value of all AAPL shares) north of $874 billion dollars. And as shares trade higher or lower following tomorrow’s announcement, the action will trigger major moves for the entire U.S. stock market.
I’ve spent a lot of time researching Apple this year. The stock is one of my very favorite investment ideas. And I’m excited to see this company creating so much wealth for my readers.
As we prepare for tomorrow’s earnings announcement, I’m very bullish on the stock. Here are three reasons why I think shares will continue to trade higher — reasons why you should own shares of AAPL today before the company’s earnings report hits the news wires and before the conference call is aired.
Apple Advantage #1: New iPhone Sales
A big part of Apple’s surge over the last few days has been due to strong sales reports for Apple’s new iPhone X and iPhone 8 models.
The iPhone X model went on sale at 12:01 AM on Friday, October 27th. Some analysts were concerned that demand for the new model would be weak as Apple already released its iPhone 8 model. Keep in mind, the iPhone X model carries a stiff $1,000 price tag that could cut into demand.
It seems those fears were completely baseless.
According to research firm Cascend Securities, the iPhone X sold out in 100 of the biggest markets in a matter of hours.
“In every case, iPhone X was sold out for pre-order online home delivery by 5 AM” ~Eric Ross, Chief Investment Strategist1
While these sales technically took place during the fourth quarter, you can bet that strong demand for the iPhone X will be a hot topic during Apple’s conference call on Thursday.
If Apple’s management team confirms that customers are falling over each other to get their hands on an iPhone X, you can bet that the stock will continue to move higher. This is a great preview to not just a positive tone in …read more
Source:: Daily Reckoning feed
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