Earnings updates

“I have sometimes sat alone here of an evening, listening, until I have made the echoes out to be the echoes of all the footsteps that are coming by and by into our lives.” – Charles Dickens, A Tale of Two Cities, Book 2, Chapter 6

Well, it’s a tale of two stocks today. The echoes of last quarter’s earnings report from Apple has that stock up to new all-time highs again today. It’s up a couple hundred bucks since the last time the company “disappointed” the Street with a “weak guidance” report. Keep that in mind with your Google long after it got hit so badly last week.  Apple’s up $25 plus and I’m letting it ride.

FIO, on the other hand, is down 15% from where it closed yesterday, and it’s now flat where it was a few weeks ago and still up 25% from where it was a few weeks before that and it’s still up nearly double from where it was a few weeks before that but it’s still down 25% from where it peaked just a few weeks ago.  Like I said, this one’s volatile. And as I’d explained last quarter — there’s little difference between paying $25 or $30 for a stock that could possibly earn, say, $5 per share per year in a few years’ time but that might only earn 50 cents per share per year in a few years’ time.  Point being that nothing changed my analysis or my stance in last night’s report and I will likely be buying back the calls we’d trimmed before the report in coming days. Not today though. Letting it settle in again.