Earnings Defy The Odds
Goldman Sachs earnings crushed. Still, the majority of put options on it that expire on Friday are at $200, which is $10 less than where it opened pre-market… so look for it to be pressured down.
Adobe crushed… and so did Best Buy. Both are good for Apple… Adobe demonstrates general health in the software market, and Best Buy shows health in electronics retail… also Apple has mini-stores in a good number of Best Buy stores. Apple also announced that they are talking to NTT to sell the iPhone in Japan, which is easily the most sophisiticated smartphone market in the world. Japan’s public transit has a robust roll-out of a pay system using phone-based chips. So look for Apple to bring some new innovations to the iPhone just to keep up. They are very equal to the task.
Look for Adobe, Apple, and Best Buy to rally into year end, and maybe look to sell into strength.
Disclosure: As of publication, I am long AAPL, though positions are subject to change at any moment. I am not a professional, but I am trying this at home. It is highly recommended that you consult a licensed financial advisor or broker before making any and all investment decisions.
