Markets rallied today, with the Dow up 113 points, on good jobless claims data this morning. The estimate for jobless claims was 400k, and the number came in at 390k. This 10 thousand claim decrease is a sign of employers hiring, which of course, is good for the economy and a sign that things in America may be getting better. Of course as always, this news is just a patch of blue sky in the larger European debt storm we are in.
Apple is down today, which is incredibly odd for a company who is 95/100 times in the green on a green day in the market. It is due to supply concerns for products designated for the iphone that are manufactured in Thailand. The supply is being constrained due to the flooding in Thailand. Citi analyst Richard Gardiner called the depressed stock price today a buying opportunity and maintains his $500 price target. On the other side, Jim Cramer of Thestreet.com wrote an article today saying how he is for the first time ever, worried about Apple. He says this has to due with a surfeit of tablets as well as rumors of iphone 4s sales not being up to par and ipod sales also being the same. Instead of simply restating what he said, have a look at his article. It is interesting. Here is Cramer's article.
Sorry for the short posts as of late. As much as I love blogging and wish I could devote hours a day to it, I simply cannot. School is getting crazy in these last few weeks of the quarter and I must turn my attention to that. I'll be back soon.
Cheers,
EZ
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