“From a technical perspective, the damage that has been done technically to the stock market is much, much worse than people are talking about,” said revered market technician Ralph Acampora.
Tomorrow, earnings reports for the third quarter will continue with Apple being one of the heavy hitters that could help rally technology stocks further and get November started in the right direction.
“Apple is scheduled to report quarterly earnings on Thursday and analysts who track the company predict— surprise —that the good times are likely to continue for Apple, the world’s most valuable public company,” said Jack Nicas of the New York Times. “Sales of iPhones have leveled off in recent quarters but people have been paying more for each device, sustaining a steady growth rate for the $1 trillion company.”
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