Friday, November 2nd ended another crazy week for the U.S. Stock Market. Although stocks like Advanced Micro Devices, Inc. (AMD), Visa (V) and MasterCard (MA) have all started to retrace, it was Dow component Apple (AAPL) which pulled down the Dow Jones Industrial Average.
As part of yesterday’s earnings release, AAPL’s CFO decided it will no longer break down unit sales of iPhones, iWatches and iPads, as part of its earnings recap. Wall Street responded negatively to this news, causing Apple stock to end the day down 6.63%. I would rate Apple stock as a hold in your long-term Wealthy Investor cash account.
That said, I expect stocks to go higher between now and Christmas Day.
Stay Open! Stay Positive!
Tyrone Jackson
The Wealthy Investor
