Stocks Are Pointing To A Lower Opening On January 23

western digital , wdc

 

Micron (MU

Micron was also upgraded to Overweight from Equal Weight at Morgan Stanley. We have been looking for MU to rise to around $62 since January 7. 

micron, mu

 

Nvidia (NVDA

Nvidia’s price target was raised to $300 at UBS from $240. Again this another stock that has seen some bullish betting heading into results. I have been looking for the stock to rise to around $268.

nvidia, nvda

 

Apple (AAPL

Apple’s price target was raised today by Bank of America to $340 price target up from $330. I have been a little bit lost with Apple recently. The stock’s big run-up has made it hard for me to track. The stock is trading around 21 times forward earnings now, which is in that range of full valuation based on my prior views of 20 to 23, and the company will need to post a beat a raise quarter to keep this momentum. But based on the chart, I could see the stock rising to around $330. 

apple aapl

 

Microsoft (MSFT

Microsoft’s price target also raised to $190 from $158 at Piper. Again this is a stock we have been looking to rise as well. I have noted in a previous article for Forbes that I see the stock rising to as high as $179.

microsoft,msft

 

P&G (PG)

Procter and Gamble is falling some today after reporting what looks like pretty good results, beating on earnings, but slightly lighter than expected on revenue. However, the company did raise the low-end of FY’20 guidance to growth of 4-5% from 3-5%. Still, shares are falling some, by about 2.5%. I had seen some bullish positioning around this stock going into 2020, so it will be interesting to see if these results change that view. 

The stock has been rising in a very well defined trading channel, so any break of that channel, and where the stock closes today will be critical to the future of that trend.

P&G, pg

 

Have a good one!

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Disclosure: Michael Kramer And The Clients Of Mott Capital Own SWKS, MSFT, And AAPL

Disclaimer: This article is my opinion and expresses my views. Those views can change at a moment's ...

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