Market Events, Best Stocks to Watch This Week
Publication: U.S. News & World Report
Wall Street can be a dog-eat-dog world for the uninitiated: if you’re not careful you’ll lose your shirt. That means knowing the best stocks to watch and what events to pay close attention to.
Any sane, productive and profitable investor in today’s high-tech world – which spits out seemingly infinite amounts of undifferentiated information at the speed of light – needs an information filter. And Apple (Nasdaq: AAPL) is one of the few that passed the filter test this week.
Before getting to a preview of this week’s best events, earnings and stocks to watch, here’s a brief look at why Apple stock is even more worthy of dissection than it usually is:
AAPL stock: It’s all about the iPhone. Diehard Apple fans are well aware of the two incredibly important Apple-related days on last week’s calendar: last Tuesday and Friday.
Last Tuesday was the highly anticipated unveiling of three brand new iPhones – the iPhone 8, iPhone 8 Plus and the 10th anniversary, $999 iPhone X – as well as a few other big-name Apple products.
Three long days later, on Sept. 15, eager iFans could finally pony up their dough to order any of those products (except the iPhone X, which we’ll touch on later).
But there’s another milestone date for the tech giant looming this week, and it’s far more important than any demonstration or online shopping cart: The iPhone 8, iPhone 8 Plus, Apple TV 4K and Apple Watch Series 3 will all hit store shelves this Friday.
Consumers’ reception of these products – and most importantly their reception of the iPhone – will be a major focus of Wall Street this week. Expect analysts, journalists and reviewers of every sort to scrutinize the new moneymaking smartphone intensely.
It’s a bittersweet debut though: Many consumers were disappointed to see the iPhone X ship date of Nov. 3, a full six weeks after the other iPhones will become available.
“The delay of the iPhone X launch into November will prompt the Street to revise downward the current year estimates as the new iPhone revenue will be pushed into the March quarter of 2018,” says K C Ma, professor of finance at Stetson University.
Not everyone is so bearish, though.
“The iPhone X will indeed be the ‘X factor’ for Apple that could send the share price rocketing toward $200 with strong numbers,” says Chad Bockius, chief marketing officer of Vast, a provider of big data solutions for many of the Global 1000’s largest automotive businesses. That would imply upside of around 25 percent from Friday’s $159.88 closing price.
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