3 Stocks I Saw on TV
The markets finished strong Tuesday as the Nasdaq extended its winning streak to 10 days. The Dow Jones Industrial Average tacked on 67.79, or 0.77%, to 8,915.94, while the S&P 500 rose 3.45, or 0.36%, to 954.58. The Nasdaq was up 6.91, or 0.36%, to 1,916.20. Melissa Lee said on CNBC's "Fast Money" TV show that Apple ( AAPL) was up more than 5% in after-hours trading after it beat earnings and revenue expectations. Jim Goldman, a CNBC reporter, said Apple posted its best ever non-holiday quarter, adding iPhone revenue eclipsed iPod revenue for the first time. For a technical breakdown of stocks recently seen on "Fast Money," check out Dan Fitzpatrick's "3 Stocks I Watch on TV."
Goldman also said the company's guidance, as expected, was conservative, though less conservative than in the past. Also, in a "big time surprise," Apple was able to maintain a hefty margin of 36.3% for the quarter, he said. Goldman said half the Macs sold in quarter were to first-time buyers as Apple continues to make impressive moves to expand market share. He also said Apple stores are clicking, with sales up 30% year over year. According to Goldman, Apple said it is pleased with the inroads it's making into the enterprise space. The company said 20% of Fortune 500 companies have bought 10,000 or more iPhones. He also said Apple is working on an iPod Touch that would feature a camera and a Wi-fi connection to make mobile video conferencing possible.