Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
Every quarter, the earnings report from the world’s largest public company, Apple Inc. (NASDAQ: AAPL), is a major event on Wall Street. This quarter is no exception. Apple is set to release its earnings report after the market close on Tuesday.
Unfortunately, the droves of traders that trade Apple’s earnings typically create a lot of noise in Apple’s share price in the days after it reports. If you think you see a big Apple beat or miss coming, consider trading one or more of Apple’s suppliers instead.
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Analog Devices, Inc. (NASDAQ: ADI) supplies capacitive touch screen controllers for both the iPhone and the Apple Watch.
Micron Technology, Inc. (NASDAQ: MU) produces memory modules such as DRAM, LPDDR3 and LPDDR2 for Apple gadgets.
Texas Instruments Incorporated (NASDAQ: TXN) supplies touchscreen controllers, power management chips and control devices for iPhones and iPads.
For what it’s worth, all three of these suppliers are trading higher by 2-6 percent Tuesday, even though Apple’s stock is down slightly on the day.
Outside of Apple’s suppliers, other names trade closely in-line with Apple’s stock as well. Glu Mobile Inc. (NASDAQ: GLU), for example, makes iOS gaming apps and gets roughly two-thirds of its revenue from Apple.
Of course, traders could also see Apple’s weakness as strength for its competitors (or vice versa). As of Q1, Alphabet Inc (NASDAQ: GOOGL)’s Android operating system was the global market share leader among smartphone users.
Disclosure: the author holds no position in the stocks mentioned.
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Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.