Hello traders everywhere! Adam Hewison here, President of INO.com and co-creator of MarketClub, with your video update for Monday, the 23rd of December.
Apple Lands A Big One
Yesterday, China Mobile announced that it had finalized a deal with Apple (NASDAQ:AAPL). This deal has been 6 years in the making and earlier in the month it was rumored not to be doable which made the stock of Apple fall. So just how big is the market for Apple with China Mobile?
To put the Apple China Mobile deal in perspective, the number of subscribers that China Mobile has is twice the population of the US. I think that gives us an idea of just how big the potential market is for the Apple iPhone in China.
About a month ago, I did it in-depth analysis of Apple showing where we thought the stock could go in the next month or two. You can see that analysis right here. It is well worth a visit if you missed it the first time.
The sale of the iPhone goes into effect on the 17th or 18th, of January depending how you count the time, remember China is 13 hours ahead of the US. Apple is also scheduled to announce earnings on the 23rd of January. I expect the stock of Apple to remain positive up until that point. I expect at that time the market will have improved, and more than likely will have created some sort of interim top as the China Mobile deal gets digested.
Tim Cook, the CEO of Apple has promised some exciting new products in 2014; it is going to be interesting to see what new products Apple has up its sleeve. I expect to see an iWatch and possibly a new Apple TV which is another hotly talked about rumor.
There is even talk about Apple purchasing Tesla to get into the electric car business. Whatever Apple does it's going to be an interesting year for this company and its stock. I'll be closely watching Apple closely in 2014.
Also On My Radar Screen Today
In addition to Apple, I'll be updating my view on the major stock indices, along with gold and the dollar. I'll also be looking at a few stocks that I found using the Trade Triangles scan today.
Every success in the market and 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.