What to Watch Wednesday: Tesla's Market Cap, Apple's New iPhone and Johnson & Johnson

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Happy hump day!

Apple (AAPL) - Get Report, Tesla (TSLA) - Get Report, and Johnson & Johnson (JNJ) - Get Report are driving headlines Wednesday morning. 

Apple's New iPhone

Apple is looking to release a low-cost iPhone, according to a Bloomberg report. We could see an announcement about the iPhone as early as March

According to reports, the iPhone will look very similar to the iPhone 8, with a screen a little smaller than 5 inches. And it’ll have Touch ID. And, don’t forget, Apple is planning on rolling out a 5G smartphone by the end of this year.

Tesla's Market Cap Hits $100 Billion

Tesla’s market cap is over $100 billion. 

Now, if you remember, CEO Elon Musk will get a big payday if Tesla holds that $100 billion market cap for 6 months. 

Just how big of a payout? Around $346 million. 

But that’s six months down the line. So, let’s break down what a $100 billion market cap means for the carmaker. The company has surpassed the market caps of Ford, GM, and Volskswagen in less than a decade

And shares of Tesla have more than doubled in the past 6 months. The company is up 90% in the past year. 

And, Finally, Johnson & Johnson Reported Earnings

Let’s talk about earnings. 

Johnson & Johnson reported before the bell Wednesday. 

The company, which is a holding in Jim Cramer’s Action Alerts PLUS charitable trust, reported earnings of $1.88 per share, which is down 4.6% from last year but came in one penny ahead of the forecast from the street. Revenue came in at $20.7 bilion. Up 1.5% from last year. 

However, revenue fell just shy of analysts' estimates for a $20.8 billion tally.

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