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Wall Street’s Golden Apple

Dear Rundown Reader,

First up, more of your letters…

On HOG:

“Please stop citing the “tariff” excuse for Harley Davidson. The tariffs have had zero impact on Harley to date.”

We cite Harley’s owns claims. They say tariffs have directly impacted their bottom line.

On Trump’s farm bill:

“I am curious about your one reader’s definition of welfare. Since when is letting business owners keep their own money (reduced taxes), welfare?” 

A farm bailout, aka cash handouts, may not be welfare, but it isn’t the same as reduced taxes.

Thanks for the letters, keep them coming!

Now for today…

One more gift for Wall Street this earnings season.

Apple wowed folks with a stellar report Tuesday. Concerns were squashed and new growth catalysts identified.

Today’s Rundown shows you why Apple is well on its way to becoming a trillion dollar company.

Your Rundown for Wednesday, August 1, 2018…

Apple’s Quest to $1 Trillion Begins

Want to know what a great earnings call looks like?

Look no further than Apple Inc. (NASDAQ: AAPL). AAPL blew the Street away yesterday with a stellar earnings report.

Here are the raw numbers, as reported by CNBC.

Earnings per share came in at $2.34, beating estimates of $2.18. Revenue hit a whopping $53.3 billion. Almost $1 billion more than anticipated by analysts. iPhone sales narrowly missed estimates coming at 41.3 million, as opposed to Wall Street’s 41.79 million consensus target.

That last number is key. iPhone X sales were sluggish and coming that close to estimates there is a welcome surprise for shareholders.

Pre-market the stock is up almost 5%. Here’s the chart heading into today’s open:

APPL

Where does AAPL go from here? We say up, up and up.

Remember the tech catalysts mentioned in yesterday’s Rundown?

AAPL has a hand in all these high-growth areas. They have Project Titan, a new driverless car initiative. They have an industry leading augmented reality platform and studio for developers. They have their hands deep in artificial intelligence.

This all on top of their web services, Mac and iPhone businesses.

Bottom line is the future looks great for AAPL and they have a long way to go before we see them hitting their ceiling.

A trillion dollar market cap seems all the more realistic today, and folks still can make a pretty penny with this stock.

Now, turning to the markets this morning…

Market Rundown for Wed., August 1

Yield on the 10-Year Treasury sits at 2.988% this morning, up 0.024.

S&P 500 futures are flat at 2,817.

Oil’s down $0.82 to $67.94.

Gold continues to give back its July gains down $2.10 to $1,231 this morning.

Bitcoin goes for $7,588 this morning, according to CoinDesk.

We’ll talk again tomorrow.

For the Rundown,

Aaron Gentzler

Aaron Gentzler

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Aaron Gentzler

Aaron Gentzler is the publisher of Seven Figure Publishing. He is also the editor of The Rundown. Aaron’s been with Agora Financial/Seven Figure Publishing for 13 years. He's been covering technology and markets for over a decade.

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