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Chip Stocks Continue To Sink, Tesla Registers 5,000 Model 3’s
Michael Kramer and the Clients of Mott Capital own shares of VZ, TSLA, NFLX, and GOOGL
The S&P 500 managed to finish the day flat, and for the most part, this 2,670 level on the S&P 500 continues to hold.
Chip Stocks
The semi companies continue to struggle, with the SOXX down by over 1.3 percent, but some stocks were down by far more. The chart on the Soxx ETF surely doesn’t look great, and the big test for the ETF comes around $167.
The relative strength index is still trending lower, and unless Intel, Qualcomm, and Texas Instruments can say something more positive, it might hard to turn the direction of this group.
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Verizon
Verizon reports results tomorrow, and what will be the most thing that comes from the report? Well, any commentary the companies give around the upgrade cycle of smartphones will be interesting. Remember it was Verizon that told us last quarter, that they saw an elongation of the upgrade cycle. That will give us a good sense of where we stand with the chip stocks until we find out details on next iPhone launch from Apple.
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Tesla
Tesla registered over 5,100 new VIN with NHTSA, which is the highest total I can remember. This comes after the company shut production for a week. Again, we will need to see what that number the next time they register VIN’s, and just how much time has passed. That could help us get a handle on the weekly production rate.
Netflix
Did Netflix the gap today? Maybe, it sure was impressive where the stock stopped falling and where it stabilized.
IBM
IBM shares have struggled since its quarterly results, for apparent reason, but the stock is pretty close to having an even bigger fallout.
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[youtube-feed feed=7]Alphabet
Finally, Alphabet reported strong results beating on both the top and bottom line. But for now, investors are not happy enough to send shares higher in the after-hours. The stock is mostly flat at that moment. I haven’t had the chance to dig through the numbers yet, but when I do will be sure to share any feedback, if I should anything worth noting.
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Tags: #stockmarket #tesla #chips #stocks #model3 #netflix #verizon #ibmÂ
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Charts used with the permission of Bloomberg Finance L.P. This report contains independent commentary to be used for informational and educational purposes only. Michael Kramer is a member and investment adviser representative with Mott Capital Management. Mr. Kramer is not affiliated with this company and does not serve on the board of any related company that issued this stock. All opinions and analyses presented by Michael Kramer in this analysis or market report are solely Michael Kramer’s views. Readers should not treat any opinion, viewpoint, or prediction expressed by Michael Kramer as a specific solicitation or recommendation to buy or sell a particular security or follow a particular strategy. Michael Kramer’s analyses are based upon information and independent research that he considers reliable, but neither Michael Kramer nor Mott Capital Management guarantees its completeness or accuracy, and it should not be relied upon as such. Michael Kramer is not under any obligation to update or correct any information presented in his analyses. Mr. Kramer’s statements, guidance, and opinions are subject to change without notice. Past performance is not indicative of future results. Neither Michael Kramer nor Mott Capital Management guarantees any specific outcome or profit. You should be aware of the real risk of loss in following any strategy or investment commentary presented in this analysis. Strategies or investments discussed may fluctuate in price or value. Investments or strategies mentioned in this analysis may not be suitable for you. This material does not consider your particular investment objectives, financial situation, or needs and is not intended as a recommendation appropriate for you. You must make an independent decision regarding investments or strategies in this analysis. Upon request, the advisor will provide a list of all recommendations made during the past twelve months. Before acting on information in this analysis, you should consider whether it is suitable for your circumstances and strongly consider seeking advice from your own financial or investment adviser to determine the suitability of any investment.