Market Vet Weighs In On Apple Into Earnings
Tim Anderson was recently a guest on #PreMarket Prep, a daily trading idea radio show hosted by Joel Elconin and Dennis Dick.
Anderson said Apple Inc. (NASDAQ: AAPL) typically does not see large post-earnings moves. Instead, it moves large on product announcements. However, even with the stock up 1.8 percent ahead of the announcement, Anderson cautioned investors that want to get short.
"Nobody will sell them short until they stumble for a couple quarters," Anderson said.
Anderson believes this is due to the fact that other products "have taken a quarter or two to catch on," meaning that while investors will pay attention to thoughts on the Apple Watch, it may not be make-or-break yet.
Related Link: Here's How Apple Has Traded Following Every Earnings Report In The Tim Cook Era
Anderson said he was not surprised that the stock "took a run" at its all-time highs ahead of earnings. The stock's all-time high close was $133.01 with an intraday high of $133.60.
Shares traded recently at $131.45.
Listen to the full interview below:
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