190.30 -0.18 (-0.09%)
Pre-Market: 8:31AM EDT
|Bid||189.76 x 1400|
|Ask||189.91 x 4000|
|Day's Range||189.46 - 191.21|
|52 Week Range||143.46 - 191.22|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||5.01|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Apple's Earnings Could Fall after Rising for Nine Quarters(Continued from Prior Part)Apple’s Q2 2019 earningsIn April so far, Apple (AAPL) has outperformed the broader market by a wide margin. As of Tuesday closing, it was trading with 9.2% gains
If you're an investor with a keen interest in technology, it's only natural to take a look at exchange-traded funds (ETFs) that track the Nasdaq. The technology sector is historically volatile compared with the NYSE, and Nasdaq stocks exhibit about 35% more volatility.
While the broader stock market rally has been strong year-to-date, large-cap technology stocks once again showed their bullish colors too. The Invesco QQQ Trust (NASDAQ:QQQ) is now higher by more than 30% since its late December 2018 lows and the exchange-traded fund is higher by more than 20% year-to-date. However, the QQQ ETF is now increasingly looking stretched on the upside and a mean-reversion trade to the downside is setting up for active investors and traders.Source: Shutterstock Earnings season is well underway but many of the large and mega-cap tech stocks are still waiting to report their latest numbers. Nonetheless, if the April rally in the QQQ ETF is any indication, investors have been giddy, gobbling up shares of these stocks right into the earnings reports. In my eye, the slope of this rally is getting all too steep for now. QQQ ETF ChartsFor some perspective let's look at the longer-term multi-year chart with weekly increments and note that by September/October 2018 the QQQ ETF was severely overbought and removed from its longer-standing up-trend as marked by the two purple parallels.InvestorPlace - Stock Market News, Stock Advice & Trading Tips Click to EnlargeMoving averages legend: red - 200 week, blue - 100 week, yellow - 50 weekBut the corrective period in Q4 2018 mean-reverted these stocks back to the upper end of the trend, where they found support. After the most recent sharp multi-month rally, the Nasdaq 100 is right back at fresh all-time highs, which in itself wouldn't be so concerning to me if it weren't for the straight line move higher to these levels. * The 10 Best Cheap Stocks to Buy Right Now A sustainable breakout to fresh all-time highs in my eye rarely if ever happens coming from severely oversold readings, all in one straight line. What is needed here at the very least is for the QQQ ETF to consolidate in a sideways to lower pattern. Click to EnlargeMoving averages legend: red - 200 day, blue - 100 day, yellow - 50 dayOn the daily chart, we see that although the QQQ ETF has had a few breathers along the way over the past few months, these were not enough to keep the rally going to higher and sustainable all-time highs for the time being.It is also noteworthy that from a momentum perspective as measured by the MACD momentum oscillator at the bottom of the chart the QQQ ETF has not been this overbought since late January 2018, where stocks proceeded to correct meaningfully.Active investors and traders could now look to leg into controlled-sized (not too large) short positions in the QQQ ETF around the $190 level or higher. A first downside target is $180, while any strong bullish reversal upon an initial pullback would be a stop loss signal.Attend Serge Berger's special webinar: The highest probability candlestick pattern, period. Click here to register. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Dividend Stocks That Could Double Over the Next Five Years * 6 S&P 500 Stocks Ready to Break Out * 5 Mining ETFs to Dig Into Compare Brokers The post Trade of the Day: The Invesco QQQ ETF Is Reaching for the Stars appeared first on InvestorPlace.
Several broad measures of technology-industry stocks are at all-time highs, a bullish signal for U.S. stocks in general
Macro Updates: Record Highs, US-China Talks, and MoreMarkets reach record highsUS markets have been strong this year, and both the S&P 500 (SPY) and NASDAQ Composite (QQQ) hit new closing highs yesterday. The upward price action is a welcome
Berkshire’s Cash Pile Sparks Acquisition Rumors—Buffett Denies(Continued from Prior Part)Berkshire’s acquisitions Warren Buffett, Berkshire Hathaway’s (BRK-B) chair, has denied that the company is looking at buying PG&E Corporation (PGE).
The Latest on the NASDAQ, Amazon, Samsung, and TencentStock markets have been cautious For most of 2019, stocks have seen either steep gains or steep losses from session to session. The tech-heavy NASDAQ Composite Index (QQQ) has again outperformed
Snap (NYSE:SNAP) stock came into its earnings event, up an astounding 117% year-to-date. But that's a misleading metric since it had fallen a ton before it bottomed on Christmas. Since then, the stock rallied more than 150% from low to high. The strength continues this morning after the earnings.Source: Shutterstock SNAP stock has been a controversial trade. It came out of the block with a powerful IPO, but then it fell hard from grace. From top to bottom it fell 80% and now it's clawing its way about half back. This makes the current zone potential resistance, but therein also lies the technical opportunity.There is now a confluence of many technical patterns where if the bulls can push through they could break through the resistance and overshoot higher for a rally that could be 30% from here. Mainly it's the opportunity to snap out -- pun intended -- of the descending channel of lower highs and lower lows.InvestorPlace - Stock Market News, Stock Advice & Trading TipsI am not a perma-bull on SNAP stock. On April 9, I wrote about selling the stock while it rebuilds its footing. That was not a bearish statement against the company's prospects but rather an assessment of the price action itself. So was I wrong then? No, SNAP stock fell about 8%.Now the story changes. Since the earnings uncertainty is out of the way, maybe the bulls can muster up enough energy to snap out of the descending channel that has plagued the stock since its IPO. * 10 Oversold Stocks to Run From Last night, SNAP management reported earnings and traders spiked it on the headline. Snap Inc beat on the top and bottom lines and grew its user metrics. It is important to note that they grew revenues 39%. This is an acceleration from the prior 36%, so the stock is earning back its classification of being a growth stock. What to Expect From SNAP StockAlthough it delivered a smaller loss, it guided lower earnings going forward. But since they are accelerating the sales line, it's okay. Growth companies need to spend more to deliver the results. SNAP added 4 million daily active users when the street expected only one million. For now, I can overlook the tepid earnings guidance as long as they keep growing their sales.This report also shows that they are improving advertising tools to contribute to growth. So Snap Inc is shifting its focus more toward advertising than just simple user metrics. We saw Twitter (NYSE:TWTR) also spike on a similar message from its earnings this week.SNAP also noted their foray into the Android platform and the Discover premium content. Those will help maintain the momentum for the next few critical months. The reaction from the last earnings was an unbelievable 20% spike so it will take a lot of this time to impress the fans. Nevertheless, it sets a firm footing that should be a support zone below to help the bulls concentrate on the upside potential above.The bottom line, SNAP stock here has the support of management success to chase the technical opportunities that are just above current levels. If the bulls can breakout of the descending trend lines of lower highs, they can target $17 per share. There will be resistance between $13 and $14.30 per share, but that is a battle worth fighting if you are a bull.Snap management is making the right moves, so there is the opportunity to chase a technical breakout as long as buyers don't quit too soon.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. You can follow him as @racernic on Twitter and Stocktwits. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Oversold Stocks to Run From * 7 Red-Hot E-Commerce Stocks to Consider * 4 Stocks Surging on Earnings Surprises Compare Brokers The post Were the Haters Wrong About Snap Inc Stock? appeared first on InvestorPlace.
U.S. markets and stock ETFs edged toward all-time closing highs Tuesday as equities made another run for record heights on better-than-expected earnings reports that eased previous concerns of slowing corporate profits. On Tuesday, the Invesco QQQ Trust (QQQ) was up 1.2%, SPDR Dow Jones Industrial Average ETF (DIA) was 0.4% higher and SPDR S&P 500 ETF (SPY) gained 0.8%. Risk-on sentiment has been renewed as the upbeat earnings season, hopes of an end to the U.S.-China trade tiff and a more patient Federal Reserve stance on interest rates have helped prop up equity markets, with both the S&P 500 and Nasdaq Indices breaking above their record closing highs in intra-day action.
Should You Buy Lyft Based on Wall Street Optimism?Lyft stockAfter being listed on the NASDAQ (QQQ) on March 29, Lyft (LYFT) stock has traded on a negative note so far. As of April 22, the stock has fallen 22.2% month-to-date, compared to 3.7% and
Trump Praises Economy Again: Here's What He Didn't MentionEconomy On several occasions, US President Donald Trump has showcased US economic growth and has gone as far as saying that the current state of the US economy is the best ever. Over the
U.S. markets and stock exchange traded funds were stuck in sideways trading as investors waited on a busy week of corporate earnings ahead. On Monday, the Invesco QQQ Trust (QQQ) was up 0.2%, SPDR Dow Jones Industrial Average ETF (DIA) was 0.2% lower and SPDR S&P 500 ETF (SPY) was flat. Market action remained relatively muted in recent weeks as investors tried to weigh positive data against a soft start to the year and potential weakness in the global economy, the Wall Street Journal reports.
Can Berkshire Hathaway Play Catch-Up with the S&P 500 This Year?Berkshire Hathaway Berkshire Hathaway (BRK-B) has an enviable long-term track record compared to the S&P 500 (SPY). Berkshire outperformed the S&P 500 by a wide margin of
Dalio’s Bridgewater Warns about Peak Margins—Should You Care?(Continued from Prior Part)Margins on the verge of reversion In its research, Bridgewater Associates has argued that the current margins in the US corporate (DIA) (QQQ) sector aren’t
Dalio’s Bridgewater Warns about Peak Margins—Should You Care?(Continued from Prior Part)A turning point for corporate margins? In its research, Bridgewater Associates has presented several arguments to support its view that current US corporate
Key Macro Updates: Growth, Central Banks, and EarningsAnalystsTowards the end of 2018, most analysts looked bearish on the global economy as well as financial markets. The pessimism wasn’t totally unfounded. The tax-cut-fueled stimulus was fast
Raymond James' Take: Can the Bull Run Continue?(Continued from Prior Part)Raymond James versus Morgan StanleyJeffrey Saut, Raymond James’ chief investment strategist, told CNBC that the stock markets (SPY) could rally to fresh highs. His opinion
Bill Ackman Thanks Warren Buffett for His Fund’s Comeback in 2019Bill Ackman is making a strong comeback in 2019Bill Ackman, Pershing Square’s founder and CEO, spoke at a money manager conference in New York on April 16. This year is turning out
Raymond James' Take: Can the Bull Run Continue?Stock markets’ remarkable recoveryThe stock markets have had a remarkable recovery since the fourth-quarter sell-off. Year-to-date, the S&P 500 (SPY) and the Dow Jones Industrial Average Index
Positive economic data and upbeat first quarter earnings helped lift U.S. markets and stock exchange traded funds on Thursday. On Thursday, the Invesco QQQ Trust (QQQ) was up 0.1%, SPDR Dow Jones Industrial Average ETF (DIA) rose 0.2% and SPDR S&P 500 ETF (SPY) was 0.5% higher. Meanwhile, upbeat profits helped industrial sector stocks lead in the S&P 500 while healthcare companies pared losses from earlier in the session.
BAML Survey: How Are Global Fund Managers Positioned?(Continued from Prior Part)Investors’ expectations of the Fed According to the Bank of America Merrill Lynch survey for April, 53% of the fund managers surveyed don’t see the Federal Reserve