Apple Races Higher… But Why?
After reporting earnings last week, shares of Apple (NASDAQ: AAPL) shot up, ending the week at $172.49.
Last week, we looked at AAPL shares over the past few months.
Despite underwhelming reviews, it appears the release of the iPhone X has reinvigorated the core Apple product buyer’s appetite for new gadgets.
AAPL shares trade at an all-time high this morning.
MarketWatch, Fortune, CNBC, everyone and their cousin, can’t praise AAPL enough right now.
Certainly, the iPhone X will sell like mad and make for another strong quarter.
AAPL perfected this new gadget rollout playbook years ago.
But looking deeper, one must honestly wonder how long this can last.
We’ve mentioned before, and will do so again, that AAPL isn’t innovating anymore.
The company is not “changing the game” with breakthrough new products.
Sooner or later, harvest phase must come to an end and new seeds must be planted for future growth.
Phones are great. Everyone needs phones. People who like iPhones will likely always buy another.
But AAPL’s not going to sustain an $885 billion market cap forever being a “phone company.”
Maybe AAPL should buy Tesla (NASDAQ: TSLA), get serious about transportation of the future, and free up Elon Musk to focus on SpaceX.
Would you buy that acquisition rumor?
Turning to the markets this morning…
Market Rundown for Mon., November 6
S&P 500 futures are off just a tick this morning at 2,582.
Oil’s up $0.36 at $56.00.
Gold’s up $2.10 at $1,271. Silver’s up a few pennies at $16.87.
One Bitcoin goes for $7,426 this morning.
Bloomberg notes this morning that the “next four days” will be critical for the GOP’s tax reform bill as House Republicans “revise” the bill to give it the best chance of passing.
What hits the Hill vs. what leaves the Hill is fascinating.
You think the average bill gets worse, better, or just different when Congress starts cutting deals?
Talk with you again on Wednesday.
For the Rundown,