Transcript
Hello, everyone, welcome to Thursday, the S&P 500 was down today .38%. But it was really sort of an accomplishment was actually almost down 1.7% at one point in the day, so rally back up, and that’s a good thing to see, bounced right off of that support level that we’ve been bouncing it off of recently. So that’s still holding. But the more important news to us is that all of our targeted indexes and individual stocks were ahead of the S&P 500. And almost all of them were gains for the day instead of losses, like what happened with the S&P 500. So really good day for our portfolios.
Again, this has been a good week so far. So one of the things that did happen is after the market closed, Apple announced their earnings, so I don’t have individual stocks in my portfolio. before March 5 of this year, when I bought Apple and Microsoft, I was worried about what might happen at that point in time. And I wanted a couple companies with a lot of cash and a lot of name recognition and a lot of cash flow, hopes that they could survive if things got really bad. Well, Apple’s doing fantastic. Actually, the revenues were 59.7 billion for the quarter, which is really kind of mind boggling. That’s an 11% increase on a really big number. But the big part was that their earnings per share were expected to come in at $2.02 a share, they actually came in at $2.58 a share, which is a big increase. They announced a four for one stock split, which will become effective at the end of August. And they’re really benefiting from this stay at home and shelter in place.
I mean, I have clients who have never video conference with me ever who are now video conferencing, because their kids bought them an iPad that they can use to video conference with the family. And so iPad sales were 6.6 billion, Mac sales were 7.1 billion, with all of the kids now being forced home. Really, you can see there’s going to be some demand for some of these products to use them. So I’m really glad that we have those in the portfolio and today was a great day. So looking forward to see what happens tomorrow. Talk to you then. Thank you very much.