Hello traders everywhere! Adam Hewison here, President of INO.com and Co-creator of MarketClub, with your mid-day market update for Wednesday, the 11th of September.
There is no question about it, most analysts did not like Apple's press conference yesterday and viewed it as a very disappointing event.
But what really happened? Apple (NASDAQ:AAPL) came out with some stellar upgrades such as moving to 64bit architecture and software updates in what I consider to be the best operating system on the planet for mobile. They also unveiled a fingerprint technology that reaches a whole new level of security and puts Apple way ahead of most companies. I think this type of technology could be a Trojan horse for Apple in the corporate world. It also opens up a whole new market for Apple where security is essential, for example, think of online banking transactions. If that was not enough, Apple is also giving away their iWork software to new iPhone buyers.
It just was not enough for the market that devours ideas and spits them out on a regular basis.
The reality is, every Apple (NASDAQ:AAPL) event cannot be a blockbuster, it is just impossible to keep that pace of innovation going on a regular basis. So with no knock-it-out-of-the-park product in hand and no deal with China mobile, the stock of Apple came under heavy pressure this morning and slid almost 6%. The question I am asking today is, "Is Apple a buy here?"
I will be looking into Apple stock today and giving you my viewpoint.
I will also be reporting on Facebook (NASDAQ:FB) and Tesla (NASDAQ:TSLA). These are two exciting, forward-looking companies that are leading the charge into the future. I will be looking at each of them using our Trade Triangle technology.
Lastly, all of our signals on the major indices moved in a positive mode in the last few days, indicating a resumption of the uptrend for stocks. I will be looking at these indices today.
Have a great trading day,
Adam appears frequently on the following financial news channels as a guest expert. Click on any cable logo to watch Adam's latest appearance.