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Apple Today 06/17/2016 OPEX (AAPL)

seymour_greenz • June 17th 2016 09:29:26 AM

Good Morning,

NASDAQ Futures are flat with +1 Fair Value, S&P Futures are down 1 with flat Fair Value and Dow Futures are up 2 on this OPEX Friday. Futures were down in early morning and have recovered nicely to near even as we await the open.

Asian markets ended up. China gained 0.43%, Hong Kong went up 0.70% and Japan led the advance, up 1.07%. European markets are also up today. The UK is up 1.05%, Germany is up 0.88% and France is up 0.83%.

Commodities are mixed this morning. Oil is up 2.01%, natural gas is down 0.19% and gold is down 0.68%. Unleaded gas is up 2.52% and heating oil is down 2.62%. Metals are mixed. Meat is mixed. Cocoa, coffee, cotton, corn, wheat and soybeans are all up.

Housing starts little changed as US construction plateaus. US economic recovery looks good compared with sluggish Europe, Asia. Apple iPhones found to have violated Chinese rival's patent?

Yesterday afternoon, Oracle Corporation (ORCL) reported Q4 earnings with profit shy of forecasts but revenue topping estimates and is up nearly 3% in pre-market.

AAPL dipped and "sprung" back nicely yesterday, ending up 0.42% for the day on lower than average volume. AAPL opened down at 96.45 to heavy volume and struggled in the mid-96 area for an hour before dipping to an intra-day low of 96.07 at 10:37am on mild volume. AAPL quickly bounced and recovered to the mid-96 area again and then further sprung on up to green by early afternoon and continued on to set an intra-day high of 97.75 at 3:48 on mild volume before settling slightly to close the day up 41 cents at 97.55. AAPL added 4 cents in after-hours to 97.59.

This morning in pre-market, AAPL opened down in conjunction with Futures in the low-97 area. At 8:35am a "report surfaced" that Apple may have Chinese IP issues relating to iPhone 6, 6 Plus that could halt sales in China. This report caused AAPL to drop down over a full point to a low of 95.55 before finding some footing. AAPL is currently down 1.67 at 95.88 as we approach the open.


Classic max-pain is 98. Today is OPEX. Have a good weekend with your friends and family.


Housing starts little changed as US construction plateaus:
http://www.bloomberg.com/news/articles/2016-06-17/housing-starts-in-u-s-little-changed-as-construction-plateaus

US economic recovery looks good compared with sluggish Europe, Asia:
http://www.npr.org/sections/thetwo-way/2016/06/17/482328208/u-s-economic-recovery-looks-good-compared-with-sluggish-europe-asia

China rebounds on easing Brexit concern:
http://www.bloomberg.com/news/articles/2016-06-17/china-s-stocks-rebound-in-hong-kong-on-easing-brexit-concern

Brexit would hurt financial business in London:
http://www.reuters.com/article/ecb-nowotny-brexit-idUSL8N1982AC

IMF's Lagarde says Being in EU has made U.K. economy richer:
http://www.bloomberg.com/news/articles/2016-06-17/imf-s-lagarde-says-eu-membership-has-made-u-k-a-richer-economy

Apple iPhones found to have violated Chinese rival's patent?
http://www.bloomberg.com/news/articles/2016-06-17/apple-s-iphones-found-to-have-violated-chinese-rival-s-patent

Is Microsoft going into the marijuana business?
http://qz.com/709463/microsoft-is-going-into-the-marijuana-business-but-the-cannabis-cloud-is-already-crowded/

Sony PlayStation VR demos starting this weekend:
http://www.techtimes.com/articles/165593/20160617/sony-playstation-vr-demos-starting-this-weekend-in-us-canada-to-follow-soon.htm

Watch British Astronaut Tim Peake somersault in space:
http://www.space.com/33192-astronaut-tim-peake-space-somersaults-video.html


Today's Economic Calendar:
8:30 Housing Starts
10:00 Atlanta Fed's Business Inflation Expectations
1:00 PM Baker-Hughes Rig Count

Notable earnings this afternoon after the bell: AMLP, ADAT, DANG, SKYS

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