…all eyes on Apple as Apple continues its journey towards the 1 Trillion dollar mark. Apple needs to hit 203.45 to become the first Company on the planet to achieve this feat. iPhone numbers were good (not great) but for a change, the Street has changed their attention to Services which is growing like crazy (up 30% YoY). Even after hitting the Trillion dollar mark, Apple will still be trading at a modest forward multiple of 17!
Concerns: Downside seems to be limited with the upcoming launch of new iPhones in Sep but the China factor is still hovering like a dark cloud. Most of the iPhoneX sales got picked up from China and if China decides to retaliate against the US Trade Tariff by targeting Apple (slapping tariffs on iPhones etc), we may see a pull back. It is also possible to see Profit takers coming into play after the Trillion dollar mark but Boy you can ride this Apple cart till then (I will sell Calls after that)