Apple will close at around $700.00. The iPhone 5 will be released today after much anticipation. The phone will feature a larger screen, a faster processor, and will also be the thinnest and lightest iPhone Apple has ever produced. The phone will also run Apple’s new iOS 6 which includes Apple’s new maps app. Early reviews of the app have found some glaring errors and inaccuracies. Despite less than perfected additions to the new iOS 6 it appears that this will be the most successful iPhone of all time. Customers have been lined up outside of Apple’s 5th Avenue store since as early as last Friday.
Google closed up on the day rallying $5.90 (+0.81%) ending at $733.99. The stock hit a new 52 week high today and is now within shouting distance of its all time high.
Numbers and Earnings Next Week:
Monday- Chicago Fed national activity index, Lennar Earnings
Tuesday- S&P Home price index, consumer confidence, FHFA home price index
Wednesday- New home sales, oil inventories.
Thursday- GDP, jobless claims, pending home sales, Earnings from Financial, Nike, Accenture, RIM, Micron.
Friday- Chicago PMI, consumer sentiment. Earnings from Walgreens
James Ramelli B.S. in Finance from UIUC. Email: james@keeneonthemarket.com Follow: @Jim_KOTM