AAPL earnings oh what a suspense
The market awaited AAPL’s earning with so much nervousness. The stock stalled 2 days ago and the buying dried up. Usually AAPL moves up during earnings and the run up and euphoria towards a great earnings report is always bidding investors for higher prices. This time with the market in correction there was no euphoria or confidence.
The stock has been hammered mercilessly for the last few trading sessions despite a new product unveiling this week for iPAD. With the sudden drop of Google’s earnings the same was expected of $AAPL earnings that something will go wrong drastically and some sudden surprise was going to come out of it. The psychology of trading completely changed with the dark street sentiment.
There was no surprise at the earnings and AAPL gave a out $8.35 EPS vs the the street consensus of $8.65 with 35 billion in sales up 27% from same quarter last year. Its guidance was also in line and the variances were minor. The stock barely budged after hours from where it closed, despite a quick trip to 585 which lasted less than a minute. With nothing to show up now the stock is free to to what it was supposed to do. Here is the stock market video that shows what is happening :
With the earning out of the way..Now the question is what is next? Should it run up to its old glory days or stagnate here.