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AAPL

Apple

$166.04

-6.75 (-3.91%)

13:10
04/20/18
04/20
13:10
04/20/18
13:10

Heavy trading in Apple as the sell-off accelerates and implied volatility spikes

Heavy trading in Apple as the sell-off accelerates and implied volatility spikes. The stock down $6.95 to $165.85 and has shed almost 7% since Tuesday. Share volume is 42M and running at roughly double the normal pace. In option action, players active in expiring Apr 170 calls, which are significantly out of the money after the drop in shares today and where more than 70K have changed hands. Apr 165 puts, Apr 167.5 calls, and Apr 167.5 puts are next most active. Meanwhile, the largest trade is 9K May 165 - 175 put spreads at $5.95 and likely rolls long puts down 5 strikes after today's 4% skid in shares. Lastly, 30-day implied volatility up 15.5% to 32.5 and in the 98th percentile of the 52-week range, with earnings slated for 5/1.

  • 01

    May

AAPL Apple
$166.04

-6.75 (-3.91%)

04/19/18
LBOW
04/19/18
NO CHANGE
LBOW
Neutral
Longbow below consensus on Apple iPhone unit growth
Longbow analyst Shawn Harrison said his contacts reiterated outlooks of flat to up 2% for Apple's iPhone growth in both Q2 and FY18. However, even if consensus iPhone forecasts decline to mirror Longbow's forecast, Harrison thinks the downside in the shares may be limited if Apple delivers an aggressive update to its capital return program. He maintains a Neutral rating on Apple ahead of the company's Q2 report on May 1.
04/20/18
ADAM
04/20/18
NO CHANGE
Target $200
ADAM
Buy
Apple survey shows slowing iPhone sales ahead of new launches, says Canaccord
Canaccord analyst T. Michael Walkley said his recent survey indicated slow iPhone sales ahead of its new product launches. He anticipates Apple will try and clear its inventory ahead of releasing three new phones in September. The analyst also does not believe Apple consumers are leaving the company ecosystem for Android and thinks they will continue to grow their market share of the premium-tier smartphone market. Walkley reiterated his Buy rating and $200 price target on Apple shares.
04/20/18
MSCO
04/20/18
NO CHANGE
Target $200
MSCO
Overweight
Apple should be bought on any post-earnings pullback, says Morgan Stanley
Morgan Stanley analyst Katy Huberty previewed Apple's upcoming earnings report, saying that she expects the company to report in-line March quarter results, but she also believes that consensus estimates for its June quarter need to be lowered. Also, Apple's capital return announcement, which typically comes with its fiscal second quarter report, could amount to a "sell the news" event as expectations for a step up in capital returns have already been at least partially factored into the stock's valuation, Huberty tells investors. The analyst, who lowered her own June quarter iPhone shipment estimate to 34M from 40.5M, believes the Q3 consensus iPhone shipment estimate of 42.9M could be revised "meaningfully lower." While she trimmed her Apple price target to $200 from $203, Huberty keeps an Overweight rating and recommends buying any post-earnings dip, given the intact Services story, troughing estimates and expectations for accelerated capital return.
04/20/18
OTRG
04/20/18
NO CHANGE
OTRG
Apple iPhone outlook weakens in China, says OTR Global
OTR Global's Q1 checks with wireless carriers, service providers, wholesalers, and an electronics retailer in Asia indicate Apple's Q2 outlook has deteriorated in China due to intensifying competition from Asian vendors. OTR Global's read on Apple's iPhone deteriorates to Mixed from Positive given the "very large" Chinese channels reduction in Q2 orders.

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ECA

Encana

$13.12

-0.22 (-1.65%)

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SSP

E.W. Scripps

$12.75

-0.1 (-0.78%)

, DIS

Disney

$102.16

-0.74 (-0.72%)

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SSP

E.W. Scripps

$12.75

-0.1 (-0.78%)

DIS

Disney

$102.16

-0.74 (-0.72%)

CBS

CBS

$50.67

0.16 (0.32%)

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  • 30

    May

GM

General Motors

$38.42

0.57 (1.51%)

13:31
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13:31
Technical Analysis
Technical Take: General Motors on upside, positive China Baojun Bloomberg story »

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  • 20

    Jun

ACCO

ACCO Brands

$12.95

0.1 (0.78%)

13:29
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Conference/Events
ACCO Brands management to meet with KeyBanc »

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  • 31

    May

BECN

Beacon Roofing

$41.97

2.18 (5.48%)

13:26
05/24/18
05/24
13:26
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13:26
Conference/Events
Beacon Roofing management to meet with KeyBanc »

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    Jun

RUT

Russell 2000 Index

$0.00

(0.00%)

, IWM

iShares Trust Russell 2000 Index Fund

$162.27

0.28 (0.17%)

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Technical Analysis
Technical Take: iShares Trust Russell 2000 Index Fund outperforms »

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RUT

Russell 2000 Index

$0.00

(0.00%)

IWM

iShares Trust Russell 2000 Index Fund

$162.27

0.28 (0.17%)

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NSANY

Nissan

$0.00

(0.00%)

, VLKAY

Volkswagen

$0.00

(0.00%)

13:25
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Periodicals
UAW boss welcomes Trump car-import investigation, Bloomberg says »

United Auto Workers union…

NSANY

Nissan

$0.00

(0.00%)

VLKAY

Volkswagen

$0.00

(0.00%)

GM

General Motors

$38.39

0.54 (1.43%)

TM

Toyota

$132.52

-2.33 (-1.73%)

F

Ford

$11.64

0.195 (1.70%)

DDAIF

Daimler AG

$0.00

(0.00%)

HMC

Honda

$32.37

-0.65 (-1.97%)

FCAU

Fiat Chrysler

$22.12

-0.345 (-1.54%)

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  • 20

    Jun

  • 10

    Sep

13:25
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05/24
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Conference/Events
The Brookings Institution to hold a discussion on trans-atlantic relations »

An expert panel discusses…

GM

General Motors

$38.39

0.54 (1.43%)

13:24
05/24/18
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Periodicals
GM is 'killing it' in China with inexpensive model Baojun, Bloomberg says »

General Motors has been…

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  • 20

    Jun

CMCSA

Comcast

$31.56

-0.31 (-0.97%)

, CMCSK

Comcast

$0.00

(0.00%)

13:21
05/24/18
05/24
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13:21
Periodicals
Comcast's Fox proposal further tests antitrust officials, Bloomberg says »

Comcast's (CMCSA)…

CMCSA

Comcast

$31.56

-0.31 (-0.97%)

CMCSK

Comcast

$0.00

(0.00%)

FOXA

21st Century Fox

$38.86

0.12 (0.31%)

FOX

21st Century Fox

$38.38

0.15 (0.39%)

T

AT&T

$32.55

0.23 (0.71%)

TWX

Time Warner

$93.95

-0.04 (-0.04%)

03/08/13
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FOLD

Amicus

$16.19

1.04 (6.86%)

13:20
05/24/18
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Options
Amicus Therapeutics attracts increased call activity as shares rally »

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  • 13

    Aug

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    Sep

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Treasury Action: yields steadied above lows »

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

13:17
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13:17
Technical Analysis
NASDAQ market internals summary »

Volume is average for…

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$NYE

NYSE Market Internals

$0.00

(0.00%)

13:16
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NYSE market internals summary »

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FL

Foot Locker

$46.30

1.27 (2.82%)

, HIBB

Hibbett Sports

$28.60

0.25 (0.88%)

13:15
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Earnings
Notable companies reporting before tomorrow's open »

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FL

Foot Locker

$46.30

1.27 (2.82%)

HIBB

Hibbett Sports

$28.60

0.25 (0.88%)

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  • 25

    May

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ROST

Ross Stores

$83.22

0.62 (0.75%)

, ADSK

Autodesk

$138.29

-1.01 (-0.73%)

13:15
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Earnings
Notable companies reporting after market close »

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ROST

Ross Stores

$83.22

0.62 (0.75%)

ADSK

Autodesk

$138.29

-1.01 (-0.73%)

DXC

DXC Technology

$99.31

-0.84 (-0.84%)

SPLK

Splunk

$116.29

-0.26 (-0.22%)

GPS

Gap

$33.29

1.32 (4.13%)

VEEV

Veeva

$76.93

0.19 (0.25%)

NTNX

Nutanix

$55.37

-0.875 (-1.56%)

LGF.A

Lionsgate

$23.17

-0.42 (-1.78%)

LGF.B

Lionsgate

$21.90

-0.29 (-1.31%)

DECK

Deckers Brands

$103.58

0.75 (0.73%)

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  • 24

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TSM

TSMC

$39.23

-0.41 (-1.03%)

13:15
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Options
Taiwan Semi put volume heavy and directionally bearish »

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ATHN

athenahealth

$154.04

0.52 (0.34%)

13:11
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athenahealth says board undertaking thorough analysis of Elliott's proposal »

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  • 05

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    Jun

13:10
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General news
Treasury's $30 B 7-year auction was solid »

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TWTR

Twitter

$33.44

0.01 (0.03%)

13:05
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  • 30

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OAS

Oasis Petroleum

$12.76

(0.00%)

13:05
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Options
Oasis Petroleum call volume above normal and directionally bullish »

Bullish option flow…

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  • 12

    Jun

13:04
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7-Yr Note Auction Coupon Rate data reported »

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