|Day's Range||77.00 - 84.07|
Veteran businessman and former J.C. Penney CEO Ron Johnson is now the CEO of Enjoy, a mobile store company that helps bring the traditional shopping experience into the homes of consumers. Johnson joined The Final Round on Wednesday to give his thoughts on the state of retail, and where businesses like J.C. Penney have steered incorrectly.
Dow Jones futures: The stock market rally held up after a Fed rate cut. Apple stock is a buy again. Microsoft stock rose late on a buyback. Will AT&T; sell DirecTV?
Huawei launches what could be the world's most powerful and feature-packed 5G smartphone on Thursday, but the fate of the device in Europe will hang on whether it can overcome a U.S. ban to give customers the Google software they expect. The Chinese telecoms giant will showcase its Mate 30 range in Munich, Germany, in its first unveiling of an all-new phone since President Donald Trump hit the Shenzhen-based company with an export ban in May. Holding the launch in Europe underlines the importance of the region's 500 million consumers to Huawei.
Steve Dowling will step down after the end of next month after five years as VP and a decade as head of corporate public relations. He told employees that he plans to take time off and is apparently not moving to another job, Recode reported.
(Bloomberg) -- A California agency on Wednesday approved the first step in the plans of Virgin Trains USA to sell $4.2 billion in tax-exempt debt to build a high-speed train to Las Vegas from a desert town in southern California.The state’s Debt Limit Allocation Committee staff recommended that the company, backed by Fortress Investment Group’s private equity funds, receive half of its request for now, contingent on it submitting an economic development plan. Combined with an expected allocation from the federal government, a California agency would issue up to $3.2 billion of tax-exempt debt on the train’s behalf.The company in November will also ask Nevada to issue up to $800 million for the railroad, plus part of the federal allocation, so the company’s tax-exempt financing plans total $4.2 billion for the $4.8 billion project. Virgin Trains would be on the hook for debt payments, not the government agencies selling the bonds on its behalf.“Today’s approval is a major milestone in connecting Las Vegas and Southern California with intercity high-speed rail,” Ben Porritt, a spokesman for Virgin Trains, said in a statement after the vote. “This is a significant private investment that will generate thousands of new jobs, spark new mixed use and housing development and remove nearly 4.5 million cars off the road each year.”Virgin Trains, which in Florida launched the nation’s first privately-owned intercity passenger railway in more than a century, plans to lay tracks mainly along the median of Interstate 15 to Las Vegas from Apple Valley, California, 85 miles northeast of downtown Los Angeles. Construction will take three years and trains will run in 2023, the company said.Apple Valley and other officials from the San Bernardino County community known as Victor Valley at the meeting touted the project’s ambitions of sparking development.“It’s a regional kick starter that will usher in a new era of economic development in San Bernardino County by creating jobs, housing, retail, and commercial activity,” California Treasurer Fiona Ma said in a statement.To contact the reporter on this story: Romy Varghese in San Francisco at firstname.lastname@example.orgTo contact the editors responsible for this story: Elizabeth Campbell at email@example.com, Michael B. Marois, William SelwayFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
We searched, using our Zacks Stock Screener, for large-cap dividend stocks investors might want to buy after the U.S. Federal Reserve cut interest rates for the second time...
With new details pouring in about forthcoming digital video services from Apple Inc. and NBCUniversal, and blockbuster licensing deals at Netflix Inc. and HBO Max, the streaming wars are heating up. Apple (NASDAQ: AAPL) has thrown down the gauntlet with plans to launch on Nov. 1 at a price point of $5 per month — or free for a year for subscribers who buy an Apple device.
(Bloomberg) -- Apple Inc.’s top communications executive Steve Dowling is leaving the company.Dowling, vice president of communications and head of public relations, has worked at Apple for 16 years and been in his role since 2014. He has been responsible for Apple’s messaging to the press, iPhone launch events and internal communications for much of Apple Chief Executive Officer Tim Cook’s tenure. Recode earlier reported Dowling’s departure.“Following another successful product launch, he has decided to leave Apple to spend some much deserved time with his family,” Apple said Wednesday in a statement. He leaves behind a tremendous legacy that will serve the company well into the future. We’re grateful to him for all that he’s given to Apple and wish him the best.”Apple marketing chief Phil Schiller, known for leading the company’s secretive culture and directing product features, will take over, Apple said. Dowling’s departure marks at least the third well-known executive to leave this year, following former senior vice president of retail Angela Ahrendts and design chief Jony Ive.To contact the reporter on this story: Mark Gurman in San Francisco at firstname.lastname@example.orgTo contact the editors responsible for this story: Tom Giles at email@example.com, Andrew Pollack, Robin AjelloFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Google is up against a lot of scrutiny from U.S. regulators, which overshadows its legal win in Germany, self-driving prowess and strategic wins at traditional automakers.
(Bloomberg) -- Apple Inc. and Ireland’s court room clash with the European Commission finally lived up to its billing as the world’s biggest tax case.A two-day hearing into their appeal of the EU’s record 13 billion-euro ($14.4 billion) tax bill heated up on Wednesday as Apple rebutted claims that Irish units at the center of its fight are just “phantoms” and Ireland hit back at regulators for saying the country would willingly forgo one-fifth of its corporate tax takings.Ireland is the victim of "wholly unjustified criticism of its tax system and its approach" from the EU in "the biggest state aid case ever," said Paul Gallagher, the government’s lawyer, in closing arguments of an EU General Court hearing in Luxembourg.EU officials "have not produced to this court a single example of Apple being preferred to anyone else" and Irish tax law didn’t require Apple to pay any more.Apple and Ireland are battling the European Commission’s 2016 order that ruled illegal a tax deal that saw the company channel sales through two Irish units. The iPhone maker is the biggest target of EU Competition Commissioner Margrethe Vestager’s crusade against corporate tax deals that allow big firms to reduce their fiscal burden.Irish BranchesThe five-judge panel homed in on the exact functioning of the Irish branches that allowed Apple revenues to be covered by a national tax deal labeled as illegal by regulators.The EU asserts the units received selective tax treatment that allowed Apple to allocate all sales profits to two companies that “existed only on paper.” Apple attempted to show that each business wasn’t a ghost while saying strategic decisions over products and sales were made elsewhere and profits should also be taxed elsewhere.“This wasn’t some kind of shell company, this was a company doing things in the U.S.,” Apple’s lawyer Daniel Beard responded, citing one of the firms. He said that no critical decisions on intellectual property were made in Ireland.Marc van der Woude, a Dutch judge and the court’s vice-president, had quizzed the EU’s lawyer late Tuesday on what evidence the European Commission had to show whether the Apple units determined strategy or drew up business plans.The business "looks like a phantom company,” he said at one point. Other judges dug into details of how the branches were run and how the Irish government determined that the revenue should be taxed there.The EU’s lawyer Richard Lyal sought to dismiss Apple’s arguments that the revenue at stake should have been taxed in the U.S. where its products are developed."Apple should not now pretend" that its Irish units "make all that money but that only a tiny proportion of it should be attributed to Ireland," he told the court. "All arguments as to tax being paid in the U.S. are completely irrelevant."Amazon, AlphabetA court ruling, likely to take months, could empower or halt Vestager’s tax probes into complicated corporate structures used by many American technology firms. The EU has also scrutinized fiscal deals done by Amazon.com Inc. and Alphabet Inc. and may draft new rules to net digital companies’ revenue.The first hints of how the Apple case may turn out will come from a pair of rulings scheduled for Sept. 24.The General Court will rule on whether the EU was right to demand unpaid taxes from Starbucks Corp. and a Fiat Chrysler Automobiles NV unit. Those judgments could set an important precedent on how far the EU can question tax decisions national governments make on how companies should be treated.To contact the reporters on this story: Aoife White in Luxembourg at firstname.lastname@example.org;Stephanie Bodoni in Luxembourg at email@example.comTo contact the editors responsible for this story: Anthony Aarons at firstname.lastname@example.org, Peter Chapman, Molly SchuetzFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Comcast Corp said on Wednesday it will offer internet customers a free streaming media set top box that works with other services, stepping up competition with Roku Inc in the market for a device that organizes multiple subscriptions. Roku's stock tumbled nearly 14% and was on track for its worst one-day loss since March as investors reacted to the increased competition against the Silicon Valley company's own streaming products. Roku's stock has surged over 300% in 2019 and recently traded at almost 13 times expected sales, according to Refinitiv data.
Cable is at the end of its market cycle as streaming services enter the growth phase. Media firms are pivoting to remain competitive in the evolving digital economy.
Cable is at the end of its market cycle as streaming services enter the growth phase. Media firms are pivoting to remain competitive in the evolving digital economy.
Apple Inc.'s long-serving head of communications is leaving the company, according to a memo cited by various media outlets. Steve Dowling, who headed up Apple's communications group after a prior tenure leading corporate PR, told Apple employees that "the time is right" to step away from Apple.
Roku's shares have fallen sharply in response to Comcast's decision to provide a free set-top to Internet-only customers. But the impact of this move on Roku's account growth will probably be limited.
Roku Inc.’s massive 2019 rally took a dent on Wednesday after a longtime media giant made a move that undercuts the makers of streaming-media players.
Qualcomm (NASDAQ:QCOM) spent $1.15 billion to buy out the remainder of its partnership with Japan-based TDK Corporation (OTCMKTS:TTDKY). This takeover probably will not offer an immediate benefit to QCOM stock.Source: Akshdeep Kaur Raked / Shutterstock.com The alliance, valued at a total of $3.1 billion, produced RF front-end filters for 4G or 5G RFFE. Moreover, the company faces three significant threats that likely hold down the value of QCOM. However, this partnership involves one of the three factors that can help to negate these threats, and could even make Qualcomm stock a buy amid intense uncertainty. The Three ThreatsContinuing lawsuits with Apple (NASDAQ:AAPL) has weighed on QCOM stock for years. Just when the company settled with Apple, new legal scrutiny has come as the San Diego-based chipmaker faces a judgment in its lawsuit with the Federal Trade Commission.InvestorPlace - Stock Market News, Stock Advice & Trading TipsFor now, Qualcomm has won a partial stay on enforcing the ruling. However, if QCOM were to lose, they would likely have to renegotiate contracts on chipsets, possibly cutting into their profits. * 7 CBD Stocks to Buy That Are Still Worth Your Investment Dollars Secondly, China. The People's Republic accounted for around two-thirds of revenue for Qualcomm in 2018. The U.S.-China trade war certainly presents issues. To have so much of one's revenue dependent on geopolitical events beyond its control could significantly hurt revenues.It could also lead to a potential competitor emerging if the dispute ultimately reduces or completely cuts off access in a worst-case scenario.Third, though this attracts surprisingly infrequent mention, the chart on QCOM stock looks ugly. It has traded in a range that has kept it between $45 per share and $90 per share for almost nine years. At the current $78 per share, it trades toward the high end of the range. Also, it has not yet surpassed the $100 per share top it saw in January 2000. Three Reasons to Ignore the ThreatsTo be sure, investors need to consider both the lawsuits and the trading history when considering a position in QCOM. That said, investors should also consider the positives. As discouraging as the problems appear, the reasons to overlook the issues with QCOM may look even more compelling.First, the company's multiple relative to growth. In a recent article, I said QCOM stock had a "low multiple relative to predicted 5G growth."Qualcomm has a forward price-to-earnings (PE) ratio of 18.5. Despite supporting a multiple below S&P 500 averages, the profit picture looks set to improve dramatically. Though profits will fall by 6% this year, a forecasted growth rate of 21.3% in 2020 should mark the beginning of an expected profit boom.Secondly, the company pays a stable, battle-tested dividend. The payout of $2.48 per share yields almost 3.2% at current prices. It has also increased every year since 2011. The increases also came every year despite the long-standing dispute with Apple that kept QCOM stock depressed.The third, and probably most compelling reason involves 5G, which probably ended the legal dispute with Apple. It also probably explains why QCOM bought out the remainder of the TDK partnership.As our own Faisal Humayan first pointed out, industry analysts predict the chipset market that will hit $2.1 billion in 2020 will grow to $23 billion by 2026. That level of growth should break the $90 per share and $100 per share price ceilings on QCOM stock. It could also make up for any doubts about lawsuits or China. The Case for QCOM stockThanks to 5G, the positives outweigh the negatives on QCOM. To be sure, the antitrust inquiry and China trade both pose threats to Qualcomm. These factors remain mainly outside of the company's control. The history of the stock also implies price ceilings at both the $90- and $100-per-share levels.However, thanks to the potential ten-plus fold growth in 5G chipsets, QCOM stock should move higher even if the antitrust suit or China trade policy does not go in their favor.Moreover, QCOM trades at a low valuation relative to profit growth. Once the company begins to sell 5G chipsets in earnest, Qualcomm stock should finally start to create new all-time highs again. Furthermore, the company has proven it can maintain dividend increases even when outside forces create tremendous pressure.When considering both the positives and negatives, QCOM stock remains a buy.As of this writing, Will Healy did not hold a position in any of the aforementioned stocks. You can follow Will on Twitter at @HealyWriting. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 CBD Stocks to Buy That Are Still Worth Your Investment Dollars * 5 Stocks to Buy With Great Charts * 5 Goldman Sachs Stocks to Buy with Over 20% Upside Potential The post 3 Legitimate Threats and 3 Reasons to Buy QCOM Stock Anyway appeared first on InvestorPlace.
The headline "The Stock-Buyback Swindle" says it all. The Atlantic magazine's August issue had a story about how American companies are spending trillions on stock buybacks to enrich their CEOs. Much of the article's content has been covered extensively by business media -- both the pros and cons -- so I won't rehash the arguments. However, one of author Jerry Useem's paragraphs bears repeating because it hits at the core of the problem."Corporations describe the practice as an efficient way to return money to shareholders," Useem wrote. "By reducing the number of shares outstanding in the market, a buyback lifts the price of each remaining share. But that spike is often short-lived: A study by the research firm Fortuna Advisors found that, five years out, the stocks of companies that engaged in heavy buybacks performed worse for shareholders than the stocks of companies that didn't."InvestorPlace - Stock Market News, Stock Advice & Trading TipsI've always believed that if a company wants to allocate its free cash flow to shareholders, it should do so by paying a special dividend, not by repurchasing shares or paying a regular dividend. * 7 CBD Stocks to Buy That Are Still Worth Your Investment Dollars Stock buybacks distort earnings growth while regular quarterly dividends ratchet up shareholder expectations. Neither is good for the long-term health of a business. But it's especially galling when stock buybacks enrich a CEO at the expense of the rank-and-file employees.Love them or hate them, these 10 companies are making their CEOs rich. Stock Buybacks Making CEOs Rich: Oracle (ORCL)Source: JHVEPhoto / Shutterstock.com According to the Equilar 200 study, Oracle (NASDAQ:ORCL) co-CEOs Mark Hurd and Safra Catz earned a combined $298 million in total compensation in fiscal 2017 and 2018, of which approximately 96% came from stock grants and option awards. In 2018, Hurd and Catz were paid 1,205 times the company's median pay of $89,887. As a tandem, Hurd and Catz own 49.7 million shares, which are worth $2.7 billion at current prices. The duo's compensation in 2017 and 2018 fails to take into consideration the amount paid through vested shares. Catz received $158 million in shares that vested in fiscal 2018 alone. As for share repurchases, the company repurchased $51 billion of its stock over the past three fiscal years, reducing its share count by 14%. Not surprisingly, its earnings per share increased by 43% over the same period. JPMorgan (JPM)Source: Bjorn Bakstad / Shutterstock.com JPMorgan (NYSE:JPM) CEO James Dimon earned $58 million in total compensation in fiscal 2017 and 2018, approximately 77% of it from stock grants. In 2018, Dimon was paid 381 times the company's median pay of $78,923.Dimon owns 10 million shares if you include options, which are worth $1.2 billion at current prices. In 2018 alone, the JPMorgan CEO had $11 million in stock vest on top of his total compensation for the year. As for share repurchases, the company repurchased $44.5 billion of its stock over the past three fiscal years, reducing its share count by 10%. JPMorgan increased its earnings per share by 50% over the same period. Microsoft (MSFT)Source: gguy / Shutterstock.com Microsoft (NASDAQ:MSFT) CEO Satya Nadella earned $46 million in total compensation in fiscal 2017 and 2018, approximately 61% of it from stock grants and option awards. In 2018, Nadella was paid a relatively reasonable 154 times the company's median pay of $167,689.Nadella owns 2.9 million shares if you include options, which are worth $393.6 million at current prices. In 2018 alone, Nadella had $25.8 million in Microsoft stock vest on top of his total compensation for the year. As for share repurchases, the company repurchased $42 billion of its stock over the past three fiscal years, reducing its share count by 3%. That's not surprising given how much stock the company issues to employees for a job well done. Microsoft managed to increase its earnings per share by 98% over the same period. Merck (MRK)Source: JHVEPhoto / Shutterstock.com Merck (NYSE:MRK) CEO Kenneth Frazier earned $38 million in total compensation in fiscal 2017 and 2018, approximately 68% of it from stock grants and option awards. In 2018, Frazier was paid 215 times the company's median pay of $82,173.Frazier owns 3.7 million shares if you include options, which are worth $307.5 million at current prices. In 2018 alone, the Merck CEO had $41.3 million in stock vest on top of his total compensation for the year. As for share repurchases, the company repurchased $16.5 billion of its stock over the past three fiscal years, reducing its share count by 6%. Merck managed to increase its earnings per share by 49% over the same period. However, its GAAP results have been very choppy over the past decade. You'll want to take this with a grain of salt. Apple (AAPL)Source: View Apart / Shutterstock.com According to the 2018 version of the Equilar 200, a list of the 200 highest-paid CEOs in America, Apple (NASDAQ:AAPL) CEO Tim Cook made $29 million in total compensation in fiscal 2017 and 2018, none of it from stock grants or options. In 2018, Cook was paid 283 times the company's median pay of $55,426. However, one needn't feel sorry for Cook. He owns 878,425 shares of Apple stock worth $198 million as (as of Sept. 12). In addition, Cook has had more than a million shares of AAPL stock vest in the last two years alone. This means his compensation for 2017 and 2018 was actually much higher than $29 million. As for share repurchases, the company repurchased $135.3 billion of its stock over the past three fiscal years, reducing its share count by 14%. Not surprisingly, its earnings per share increased by 29% over the same period. Bank of America (BAC)Source: 4kclips / Shutterstock.com Bank of America (NYSE:BAC) CEO Brian Moynihan earned $43 million in total compensation in fiscal 2017 and 2018, approximately 93% of it from stock grants and option awards. In 2018, Moynihan was paid 247 times the company's median pay of $92,040.Moynihan owns 3.4 million shares if you include options, which are worth $100.9 million at current prices. In 2018 alone, Moynihan had $23.1 million in stock vest on top of his total compensation for the year. As for share repurchases, the company repurchased $38 billion of its stock over the past three fiscal years, reducing its share count by 9%. Bank of America increased its earnings per share by 99% over the same period. eBay (EBAY)Source: Mano Kors / Shutterstock.com eBay (NASDAQ:EBAY) CEO Devin Wenig earned $36 million in total compensation in fiscal 2017 and 2018, approximately 82% of it from stock grants and option awards. In 2018, Wenig was paid a 152 times the company's median pay of $119,562.Wenig owns 1.7 million shares if you include options, which are worth $67.5 million at current prices. In 2018, Wenig had $18.8 million in eBay stock vest on top of his total compensation. As for share repurchases, the company repurchased $10.1 billion of its stock over the past three fiscal years, reducing its share count by 19%. eBay increased its earnings per share by 80% over the same period. Qualcomm (QCOM)Source: photobyphm / Shutterstock.com Qualcomm (NASDAQ:QCOM) CEO Steven Mollenkopf earned $32 million in total compensation in fiscal 2017 and 2018, approximately 75% of it from stock grants and option awards. In 2018, Mollenkopf was paid a 233 times the company's median pay of $85,592.Mollenkopf owns 679,813 shares if you include options, which are worth $53.8 million at current prices. In 2018 alone, the CEO had $12.9 million in stock vest on top of his total compensation for the year. As for share repurchases, the company repurchased $27.8 billion of its stock over the past three fiscal years, reducing its share count by 11%. Qualcomm decreased its earnings per share by 203% over the same period. On a non-GAAP basis, it decreased earnings per share by 21%. Pfizer (PFE)Source: Manuel Esteban / Shutterstock.com Pfizer (NYSE:PFE) CEO Ian Read earned $46 million in total compensation in fiscal 2017 and 2018, approximately 76% of it from stock grants and option awards. In January 2019, Read passed down the company to Albert Bourla after eight years at Pfizer's helm. In 2018, Read was paid 244 times the company's median pay of $80,011.Read owns 1.3 million shares if you include options, which are worth $48.5 million at current prices. In 2018 alone, Read had $10.6 million in stock vest on top of his total compensation for the year. As for share repurchases, the company repurchased $22.2 billion of its stock over the past three fiscal years, reducing its share count by 5%. Pfizer increased its earnings per share by 68% over the same period. Cisco (CSCO)Source: Sundry Photography / Shutterstock.com Cisco (NASDAQ:CSCO) CEO Charles Robbins earned $38 million in total compensation in fiscal 2017 and 2018, approximately 73% of it from stock grants and option awards. In 2018, Robbins was paid 160 times the company's median pay of $132,764, the second-highest median pay (behind Microsoft) of the 10 stocks listed in this article. Robbins owns 139,189 shares if you include options, which are worth $6.9 million at current prices. Of the CEOs on this list, Robbins has the smallest ownership position in terms of total dollars in stock held. In 2018, Robbins had $9 million in stock vest on top of his total compensation for the year. As for share repurchases, the company repurchased $41.9 billion of its stock over the past three fiscal years, reducing its share count by 13%. Cisco increased its earnings per share by 24% over the same period. At the time of this writing Will Ashworth did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 CBD Stocks to Buy That Are Still Worth Your Investment Dollars * 5 Stocks to Buy With Great Charts * 5 Goldman Sachs Stocks to Buy with Over 20% Upside Potential The post 10 Companies Making Their CEOs Rich appeared first on InvestorPlace.
Apple (NASDAQ:AAPL) is still arguably the best company on the planet. They have accomplished amazing things in spite of a lot of criticism of Tim Cook's leadership. I personally don't believe that he's the best person for the job, but that doesn't stop me from betting bullish on the Apple stock every chance I get.Source: George Dolgikh / Shutterstock.com In early June, I wrote about an opportunity to go long AAPL and it delivered a 20% rally and $30 per share upside. And more recently I was lucky to profit from smaller rallies. So check emotions at the door and let charts and fundamentals be the guides for the AAPL stock.The outcome of this week's market action is binary because of today's Fed decision on rates. This also will also temporarily affect the AAPL but eventually the fundamentals will retake the reins. The Fed won't change AAPL's 2019 thesis.InvestorPlace - Stock Market News, Stock Advice & Trading TipsFundamentally, it is easy to argue for owning AAPL stock. Wall Street systemically undervalues it. AAPL sells at 19 trailing P/E ratio which is about four times smaller than Amazon (NASDAQ:AMZN) and 40% cheaper than Facebook (NASDAQ:FB).However, this alone is not reason to expect higher prices because short of a miracle, investors will continue to undervalue the Apple stock. But technically there is reason to expect much higher prices soon. It is on a path to reaching $245 per share. This would be a natural extension from its rally that started last Christmas. Apple Stock is Still Headed to $245Off last year's correction, AAPL stock rallied 50%. Then it gave back almost half it in the April correction -- but this is normal price action. Bullish waves usually unfold in three pushes. First, the AAPL buyers took it until they hit resistance at $213 per share. Then, they corrected a bit and bounced off of the point of control of $172 per share. The third push, which is ongoing now should extend above $240 per share. There will be resistance at its last failing point at $226 per share.This is all to say that if I am long Apple stock, I stay long for at least another $15 upside opportunity from here. Long term, if the stock market is higher in the future than so is Apple. This is a money-making machine that will take more than an underwhelming CEO to break it.The Apple stock rally still has legs for many years to come. They are becoming less dependent on one product; the iPhone is no longer the only headline that investors focus on. The Services portion of the Apple revenues is now gaining momentum. These are recurring revenues that make the company P&L less dependent on a single item release and updates. Yes, the iPhone is still important but much less so than a year ago. Apple is finally adapting to the new way of doing business via subscription models rather than hardware pushes.Short term, there is a gap above in AAPL to $223 per share from the silly Goldman Sachs headline from last week. But conversely, if AAPL stock loses $217 per share, it could fall to fill the gap at $208 per share. The good news is that even if this happens, there is plenty of support there to keep it above $200 a share. Equity Markets are Headed to New HighsToday's fed announcement might cause volatility, but my personal overall market thesis is that we will make new all-time highs soon. I expect fireworks this week, but if we dip there will be buyers to pick the pieces up and run higher. I still believe that there are too many bears who are too comfortable being short when markets are at all-time highs and when the global central banks are dedicated to inflating the economies. * 7 CBD Stocks to Buy That Are Still Worth Your Investment Dollars They say do not fight the fed and do not fight the tape. So I don't see the reason to short stocks when both of these are true. So when we make new highs it will be a big bang where we will move a hundred points in the S&P 500 quickly. Because when the last stops trigger, buying will beget buying and I want to be long Apple stock into that event.Nicolas Chahine is the managing director of SellSpreads.com. As of this writing, he did not hold a position in any of the aforementioned securities. Join his live chat room for free here. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 CBD Stocks to Buy That Are Still Worth Your Investment Dollars * 5 Stocks to Buy With Great Charts * 5 Goldman Sachs Stocks to Buy with Over 20% Upside Potential The post Apple Stock Is Still Headed to $245 appeared first on InvestorPlace.