"Everyone who wants out has probably already done their selling," says Nate Pile, who sees a "sidways to up' market. In his Nate's Notes, the advisor sees opportunity in a trio of techs.
"My experience with market cycles continues to suggest to me that the odds favor a 'sideways or up' market over the next several months.
"Meanwhile, Apple (NASDAQ: AAPL) is technically still stuck in a trading range, I am very pleased with the leadership it has shown in the market over the past several weeks.
"For the company's first quarter, Apple recently reported revenues of just under $10.2 billion and net profit of $1.61 billion, or $1.78 per share, as compared to revenues of $9.6 billion and a quarterly profit of $1.58 billion, or $1.76 per share, in the same period a year ago.
"Not a huge increase, to be sure, but in light of the slowdowns being seen at other tech companies over the past year, these numbers are pretty impressive. Make sure you pick up a few more shares before Wall Street wakes up again! AAPL remains a strong buy under $85 and a buy under $105.
"Despite coming up short (relative to Wall Street's expectations) in its most recent earnings call, I am very pleased to report that Electronic Arts (NASDAQ: ERTS) is continuing to trace a favorable technical chart.
"Its is showing the sort of chart pattern that almost always (but not always, mind you!) proves to represent a great entry point for long-term investors (due to minimal downside risk vs. lots of upside potential).
"For the company's third quarter, EA reported non-GAAP revenues of $1.74 billion and non-GAAP net income of $179 million, or $0.56 per share, as compared to revenues of $1.73 billion and net income of $290 million, or $0.90 per share, in the same period a year ago.
"I am adding a few more shares to my portfolios this month. ERTS remains a strong buy under $16 and a buy under $20.
"Though NVIDIA (NASDAQ: NVDA) tumbled a bit the day after the company released its latest earning report, the selling was met a very solid bid on the part of buyers.
"Barring a meltdown in the overall market, I believe the stock is likely to work its way higher in the weeks ahead.
"There is an unbelievably large short position in the stock, and thus I believe we are currently looking at a situation with downside risk of $2-$3 but upside potential of $5-$15 from current prices if a short-squeeze develops. And I like those odds! Make sure you own some NVIDIA! The stock is a very, very strong buy under $9 and a buy under $12."
Steven Halpern's TheStockAdvisors.com offers a daily look at the latest market commentary and favorite stock picks and investment ideas from the nation's leading financial newsletter advisors.
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Reader Comments (Page 1 of 1)
3-12-2009 @ 12:33PM
Beltway Greg said...
And please don't mention the new IPod to Steve Wozniak. Just recently he declared it "dead." Obviously Steve didn't get the memo and judging by his appearance on "Dancing With The Stars" starved for attention though obviously not starved in the traditional sense of the word.