Apple: “See You In Court!”
A reader invokes “Tricky Dick”…
“Trump will not be impeached. He’ll resign just as Nixon did. Pence will give him immunity and Trump will go on living just as he used to — free from Congress, inquiries and Fox news.
“He then can devote [himself] full-time to his pursuit of Mammon.”
A Canadian reader differs with another neighbor to the North who said he’d swap presidents:
“I’m Canadian, so spare me the B.S. about our president.
“We had Harper as our last president and he was the same kind of neo-fascist that Mr. Trump is. You want a lying, racist, demagogue to represent [Canada]?
“Trudeau may be well-mannered, which offends you, but his word is good and he is loyal to his supporters. Trump discards people like used Kleenex. You wouldn’t want him for a friend…his word is no good.”
And we hit the nail on the head Friday:
“You’re absolutely right! I do have electrical tape over the laptop camera! Lol!”
Along those lines, a reader writes:
“My desktop doesn’t have a camera but my Kindle has black tape over the camera. And I drive a 10-year-old pickup with minimum electronic gizmos.
“It might be interesting to do a survey of how many readers keep their cameras covered all the time. I suspect we’re a reclusive lot.”
Reclusive or smart? (Or paranoid?) Just for kicks, write in.
Your Rundown for Monday, March 4, 2019:
“See You In Court!”
So says Apple to the world’s largest mobile chipmaker Qualcomm — and vice versa.
Since 2017, Apple’s been in a legal dispute with San Diego-based Qualcomm. At issue, Apple complains Qualcomm’s entire business model is based on illegal patent practices to hedge its market dominance.
“The legal saga will reach a crescendo in April,” says Yahoo Finance, “when an antitrust case filed by Apple in early 2017 heads to trial.”
And two can play that game: Qualcomm has since filed its own complaint against Apple, claiming the iPhone maker infringed on three of Qualcomm’s patents. The chipmaker’s seeking millions of dollars in damages.
We wanted to check in on how these stocks are doing… and we added First Trust NASDAQ-100 Technology Sector Index ETF (QTEC) as a measure of the overall Nasdaq Index.
You can see from the chart Qualcomm’s had a rough time of it since it peaked in October; Apple’s line’s similar. QTEC, on the other hand, has shown fairly steady, reliable growth in the last three years.
Looking at the last four weeks, we note QTEC shares have moved up 7.34% and the ETF has a 14-day RSI of 66.86. The Relative Strength Index indicates whether shares are overbought or oversold. A RSI number over 70 indicates shares are overbought; under 30, shares are oversold.
One of the things we like about QTEC is the way the fund’s weighted: it includes 39 Nasdaq stocks and they’re almost all equally weighted. So even if this April court battle between Apple and Qualcomm makes investors nervous, Apple (and Qualcomm, to a lesser extent) won’t cause QTEC to tip over.
Market Rundown for Mon. March 4, 2019
S&P 500 futures are up 6.5 points to 2,810.2.
Oil is up $1.04 to $56.84 for a barrel of WTI.
Gold is down $13.50 to $1,285.70 per ounce.
Bitcoin is down $76.90 to $3,736.32.
Have a good day. We’ll talk tomorrow.
For the Rundown,