Wednesday, October 18, 2006

Apple predictions correct, and market update

Hah! Our pre-announcement predictions on Apple were correct. Not only did Ipods continue their climb (at a slower rate) but iMac sales were up 30 percent last quarter. The stock is up about 5% in aftermarket trading, not bad for the return on a quick analysis.

Another interesting moment in the investor call was when CEO Steve Jobs said, ""Looking forward, 2007 is likely to be one of the most exciting new product years in Apple's history." Could that be an allusion to the much expected iPhone? I think so. I have started to divine from various supply chain factoids that Apple is quietly arranging for supplies of components that suggest a couple models of iPhones for next year, at least one of which would have data services.

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The market did well today but stumbled yesterday. To anyone who doesn't know why yet, allow me to clarify.

The "core" producer price index, which measures inflation without food and energy, rose 0.6% last month, the biggest increase since January 2005 and triple the rate expected.

The Labor Department's producer price index for finished goods did fall by 1.3% in September -- the largest decline since April 2003 -- but that decrease was largely due to lower energy prices, while the core inflation increase was due to actual material goods price increases.

Concerns about the report initially knocked the Dow Jones Industrial Average down nearly 100 points in early trading tuesday.

For now investors seem to be taking this as a buying chance and the bull forces continue. But the data will make the market more choppy, you can count on it.

Invest Well

FW.
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