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Leigh Baldwin & Co.

112 Albany Street, Cazenovia, NY 13035 | Phone: (315) 655-2964 Toll Free: 1-800-659-8044

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Diamonds and Dogs

10.4.19

Apple (AAPL) leading the chip sector higher. Apple is up over 2% after the Nikkei Asian Review reported the company asked its suppliers to increase production for the iPhone 11 by up to 10%. Apple suppliers like Skyworks Solutions (SWKS) is up 4%, Lumentum Holdings (LITE) is up 5% and the Philadelphia Semiconductor Index is up 1.2%.

HP (HPQ) continues to struggle. The computer and printing giant is down 9% after announcing plans to cut 7,000 to 9,000 jobs over the next three years, as its biggest profit generator, printing, continues to reel from soft demand pressures and cheaper printing supplies. HP expects to save a $1 billion over the next three years with the restructuring. The company remains a cash cow generating free cash flow of at least $3.0 billion a year. HP will use the job cuts and cash flow for a $5 billion share repurchase program and raise their dividend by 10%. The dividend hike and the constant decline of the stock bumps the yield up to 4%.

Diamonds and Dogs market commentary is a journal of daily observations on anything that happens to be of interest to our author. Obviously, our primary focus is the stock market and world economic events, but for this page we have no defined topics. We want this page to be dedicated to the interests, concerns, and possibly to the financial gain of our clients and friends. All comments contained herein are for informational purposes only, and should not be considered as a solicitation to buy or sell any security. The firm does not guarantee the accuracy or completeness of the information or make any warranties regarding results from it's usage.