Markets Continue to Hit to New Highs on Promise of Trump’s “Phenomenal” Tax Plan: Today’s Research Reports on Apple and Verizon

NEW YORK, NY / ACCESSWIRE / February 14, 2017 / Promises of a “phenomenal” tax plan by President Trump continued to push markets to new record highs on Monday. The Dow Jones industrial Average gained 0.70 percent, 142.79 points, to close at 20,412.16, while the S&P 500 gained 0.52 percent to close at 2,328.25. On Monday, the S&P 500 hit a $20 trillion market cap for the first time in History after it broke the 2,324.22 mark, according to Howard Silverblatt, senior Index analyst at S&P Dow Jones Indices. Currently, the S&P 500 is trading at approximately 17.45 times its 12 month forward earning, 25 year average of price to forward earnings of the index is near about 15, according to Thomson Reuters.

“Even though we have social unrest and building geopolitical tensions, the market refuses to fall in any meaningful fashion, which means there remains a very strong underlying bid in the market,” said Adam Sarhan, chief executive officer of 50 Park Investments. “This is due to a confluence of a few factors, including the earnings recession being over, a very strong bull market, and the hope for future prosperity under the pro-growth policies of the new administration.”

Let’s Take a
Closer Look at Today’s Trending Tickers

Apple’s shares gained 0.89 percent to close at $133.29 a share on Monday. The stock traded between $132.75 and $133.82 on volume of 23.04 million shares traded. Apple has closed at its all-time high closing price, with market cap of close to $700 billion. Apple has outperformed the broader markets by a large margin in recent months. Shares of Apple have gained approximately over 23 percent over the past three months, compared to just an 8.3 percent rise for the Dow Jones over the same period. Analysts at Goldman Sachs have recently upgraded its price target on the stock to $150 from $133 as they have “increased confidence” that “major new features” from Apple’s latest iPhone, which is to be released later this year, will induce a strong upgrade cycle for consumers.

Access Today’s Apple Research Report Click
Here

Verizon Communications’ shares declined 0.88 percent to close at $48.55 a share on Monday. The stock traded between $48.08 and $48.62 on volume 18.31 million shares traded. Shares of Verizon’s competitors AT&T and T-Mobile were also sent lower Monday after the largest wireless carrier in the nation announced that it would begin offering unlimited data plans for the first time since 2011. Verizon added 591,000 wireless subscribers in the fourth quarter, half as many as its competitor T-Mobile. Verizon is still the industry’s top performer in overall quality, network reliability and speed, data and calling, according to a study by RootMetrics released in August last year.

“It offers a ‘fightback’ moment for the company,” wrote Wells Fargo analyst, Jennifer Fritzsche, in a note to clients Monday. “With this move — it is very much back in the conversation.” “This announcement sends a very strong message around the strength in the Verizon network,” Fritzsche added.

Access Today’s Verizon Communications
Research Report Click Here

Today’s Features Includes:

Apple Inc. (NASDAQ: AAPL)

Verizon Communications Inc. (NYSE: VZ)

Research Driven
Investing

We are committed to providing relevant and actionable information for the self-directed investor. Our research is reputed for being a leader in trusted, in-depth analysis vital for informed strategic trading decisions. The nimble investor can leverage our analysis and collective expertise to execute a disciplined approach to stock selection.

RDInvesting has not been compensated; directly or indirectly; for producing or publishing this document.

Disclaimer: This article is written by an independent contributor of RDInvesting.com and reviewed by Hemal K. Gandhi, a CFA® charter holder. RDInvesting.com is neither a registered broker dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.

CONTACT

For any questions, inquiries, or comments reach out to us directly at:

Address:

Research Driven Investing, Unit #901 511 Avenue of the Americas, New York, NY, 10011

Email:

contact@rdinvesting.com

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: RDInvesting.com

ReleaseID: 455086

Go Top