Apple Announcements, Alibaba IPO and Market Conundrums

Regardless of the madness happening in the UK with the vote for Scotland’s independence, the US Markets failed to fall very far from their recent highs. The Dow Jones dropped a little less than 100 points, the S&P dropped only 0.65% to 1,988.45 and the Nasdaq … where all eyes were focused 0.88%.

The Nasdaq was monitored closely by traders as Apple presented the i-Phone6 ​​(in two versions of 12 and 14 inch screens) and a teaser on the future i-Watch.

Algo-traders feasted and this resulted in staggering volumes of trade, a stratospheric 189 million shares (as on April 24 with the release of quarterly) and significantly more than 200 million ‘after hours.

This represents $20 billion of ‘turnover’ on that basis alone, and is above a full week of activity on some European indexes.

By midday AAPL gained 2% and erased its gains a few seconds before climbing nearly 5% to $103, then all lost again once more and finished down 0.38% to $98.5.

All the rest of the news was literally overshadowed by the Apple announcement, and comments on the impending IPO of Alibaba.

Should we buy, without thinking, Alibaba and ‘make room in portfolios’ by releasing Amazon? Or remain suspicious of what looks like a ‘catch-all’ which the user externalization of profits is a real Chinese puzzle.

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Pete Southern

About Pete Southern

Pete is an active investor with knowledge of all sectors but his first love are IPO's. A failed day trader who now understands research. A love of economics and writing seen Pete begin to publish content for various finance blogs. Our main editor and collator of contributions, he is your point of contact via editorial at stockpricetoday.com

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