Happy hump day!
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.