The Dow touched 22,000 for the first time on Wednesday after a better-than-expected earnings report from Apple Inc. (Nasdaq: AAPL) on Tuesday afternoon.
Analysts were skeptical about Apple stock due to the company’s anticipated release of the iPhone 8. Rumors had circulated about production delays, and many expected weak sales for existing iPhones as customers waited for the new model.
The report brushed those concerns aside. Apple’s revenue was up 7% from the same quarter last year, and net income was up 11.5%.
But those aren’t the numbers Money Morning Chief Investment Strategist Keith Fitz-Gerald is focusing on. Keith joined CNBC World’s “The Rundown” to tell us his big takeaways from Apple’s report:
Editor’s Note: Pundits denied it, experts doubted it, but on Nov. 5, Keith Fitz-Gerald appeared on national television to predict Donald Trump’s election would unlock a historic “rip your face off market rally.” Now, as billionaires pour tens of billions of dollars into the markets to chase trillions of dollars still on the sidelines of this rally, Keith is watching a mysterious “X” pattern that’s appeared on 47 stocks that he monitors. Since then, all of the stocks have gone up in price, some by as much as 150% in 15 days and 264% in less than a month. Click here to find out about the others…
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