Diamonds and Dogs
Apple dragging the Nasdaq to new all-time highs. Apple (AAPL) is up 2% as demand for their iphone 8 and iphone X will ramp up over the next several weeks and months. The analyst at Canaccord Genuity expects 78.5M in iphone sales in the December quarter which will translate into 87 billion in sales and $19 billion in profits. Most companies can't make that in a whole year or several years. If Apple gets to $195 a share, the company will be worth a trillion dollars and may be cheap.
Campbells Soup (CPB) is mmm,mmm, bad. The soup company is down 8% not far from a 52 week low following disappointing earnings. The company missed estimates as sales declined 2% year over year. The company also lowered guidance for 2018. While demand has been soft for Campbell soups, the company blamed part of the earnings miss on higher carrot costs. Not sure if that was their best excuse to go with.