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Earnings and Apple

September 21, 2012 – 5:26 pm

The I-Phone5 goes on sale today and of course there are lines of people waiting to be the first to buy. Since there is no economic news worth mentioning I thought this might just be the most important news item. The reason is that earnings season is just around the corner and it looks like it’s going to be a tough one. Earnings warnings have been coming in fast and furious despite the experts downgrading earnings expectations all quarter long. Apple computer is not in that situation. In fact they are set to repeat last quarter’s performance where they, all by themselves, were a large part of the earnings for the entire market.

The oil majors should have good earnings also as oil prices were fairly high for most of the quarter but demand was not that strong. If you want to see demand in action look at the lines wrapping around the Apple stores this morning.

Good Trading,
Steve Peasley

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