Diamonds and Dogs
Apple (AAPL) shining brightly. Apple is up 5% at a three month high following an upgrade at Bank of America. BofA raised their price target to $210 a share due to a "large reversal of inventory overhang" for Apple iPhones, as well as stability in the group's global supply chain and "modest" acceleration in services revenue growth. BofA also expects 5G to reaccelerate iphone sales. In the meantime, Apple continues to buy back billions in stock lowering its valuation.
Sad times at Boeing (BA). Boeing is down 6% on seven times its normal volume after a Boeing Max 8 crashed in Ethiopia over the weekend killing all 157 on board. Back in October a Boeing 737 Max 8 killed all 189 on board in Indonesia. China has grounded all its Boeing Max 8 planes, the only country to do so. India and others are ordering additional maintenance checks but stopping short of grounding all their planes. In the US, the FFA is on the job, reviewing and inspecting the crashes.