It will be early 60s tomorrow.But tomorrow is also the day that we will hear the unemployment rates, and then FOMC meeting is next Tuesday.
I think the stock will be going up and Apple's stock will be going up after the meeting,if the FOMC is not raising the interest rate on that meeting.
It seems to me,the option scandal is just a mutter of accounting,they won't arrest any body.Another word, it is just a mutter of money and Apple can afford any mutters of money,can't Apple?
After all, if you sell your stock tommorow,what stock will you buy next? Isn't that called "APPLE"?
I'll hold mine.
I happen to be short 11,500 shares. I want to cover. As a long of 40,000 shares of Broadcom, I saw the price tumble in half after beating street estimates and getting upgraded. I finally covered at $32.00. Only reason for the fall was the accounting - and no news has been made that anything terrible happened.
So I think that it opens at a little over $60.00. The problem with this situation is that there is so much speculation in the stock that there are many weak buyers who know what has happened to similar companies. It would not shock me if stock was down over 20%. So $55 is not out of the realm of the possible tomorrow.
> 67.50 then down to low 60's. May break 57 even.
Because, as we all know, the market is backward looking, and far more concerned about past performance than future earnings.
Well now thats the million dollar question... The news broke a little late so we really could not get a good sample of what was coming. $66 seems reasonable to me. But that will only be the beginning. Hedge funds will start the dumping which will continue for weeks.
This is what happens to volatile companies that simply fall short of expectation:
This is what happens to volatile companies that have fraud scandals and coverups:
I don't expect this much of a nightmare, but somewhere in between is reasonable.