Wall Street took another dip this morning as investors continue to be frightened by diminishing spending and a weakening economy. Wait, this sounds exactly like every other post I write. Could it be because every day Wall Street is a bust because of the “economic turn down”? Could it be because everyday consumers haven’t started to spend more money? I’m taking bets. Two years till I get to write Wall Street is having a spectacular day? 1 year?
While yesterday sentiment for the major indices was notably bullish, today they have dramatically fallen. Sentiment for the DJIA, NASDAQ, and SP500 has become bearish, with DJIA sentiment almost off the graph. You can check out updated sentiment here on the front page of PredictWallStreet.
There are some good forecasts today on popular companies I like. Ironically, both Apple and Research in Motion have forecasts, as well as First Solar, Inc. and Citigroup. Go check out the rest here.
Apple (AAPL) is forecasted today to close up. Between cutting back on iPhone production and decreasing revenue from iPod sales, investors have had many concerns about the company lately. Fortunately decreasing iPod sales, one of Apple’s biggest revenue channels, has proved to not effect the company that directly as sales from iTunes, iPhones and Macbooks have made up for the lack. Analyst reports have become increasingly bearish for Apple, but blogger’s believe Apple earnings in January could beat expectations. Sentiment for AAPL has been bearish but took a turn upwards. They’re are 128 predictions on Apple right now. Of those, 48% predicted Apple up. It’s a close call right now. I think it’s no secret anymore that Apple will continue to be one of the strongest players in our recent economic game and that Apple is clearly a great long term buy. Although this is no recommendation because I am by no means an adviser or professional. Just my opinion.
And on the other side of the cell phone maker rail road tracks, we have Research in Motion (RIMM). RIMM is forecasted to also close up today. RIMM has been dangling the Storm in front of consumers with cryptic commercials and no release date in sight. Finally bloggers around the internetsphere have agreed that November 14 or 16th will be the release date, although this has not been confirmed by Research in Motion. In my opinion, they need to get this phone out before the holidays if they have any prayer of competing with Apple on any level. While the Storm may not trump the iPhone, it will at least give RIMM something new for the holidays to boast. Checking one month sentiment, you can see RIMM has actually had pretty strong sentiment with only a recent bearish dip. It is now becoming more bullish most likely in anticipation for the holidays and the Storm release. 62% of predictors have predicted up for RIMM. I have predicted up as well.
And lastly, First Solar, Inc. (FSLR) is also forecasted to close up today. As the leader in its industry, FSLR is able to fund its own projects without outside funds and with a Democratic White House and Congress, we are sure to see a push in alternative energy in the coming years. FSLR’s price has dramatically dropped since the beginning of the summer but I don’t believe this to be any indication of the company’s performance. One month sentiment is currently heading up and I remain bullish about FSLR and have predicted up along with the other 60% of predictors who also predicted up on PredictWallStreet.
If you are one of the lucky few to have Veteran’s day off, enjoy it. Thankfully I at least have no class today which just leaves more time for me to study for my midterm on Wednesday. It’s a never ending cycle. Good day!
Stumble It!
0 responses so far ↓
There are no comments yet...Kick things off by filling out the form below.