Diamonds and Dogs
Apple (AAPL) closing out the third quarter on a high note. Apple is up 2% back toward the yearly high on an upgrade at JPMorgan. The analyst expects investor sentiment on Apple to improve materially as it becomes clear that iPhone sales are outperforming "muted" expectations. The analyst raised his forecasts for iPhone sales volumes for the current iPhone 11 series and next year's expected 5G iPhones and raised his price target to $265 a share.
Boeing (BA) lower to end the quarter. Boeing is trading down a percent and down 14% the last six months as the company continues to grapple with fixing and improving their 737 Max planes. Over the weekend it was disclosed that engineers working on a flight-control system for the 737 MAX omitted key safeguards that had been included in an earlier version of the same system used on a military tanker jets. Two 737 Max planes crashed last year killing a total of 346 people. Boeing is expected fix the 737 MAX with the security systems used on their tanker planes and vows to make the MAX among the safest airplanes ever to fly. Let's hope so.