Diamonds and Dogs
10/30/17
Apple (AAPL) powering higher. Strong demand for Apple's iPhone X as pushed the stock up 3% today after a 4% rally on Friday. One well-known sector analyst raised his forecast for pre-orders by 10 million on Monday and another to predict iPhone sales overall next year would be higher than consensus forecasts. Apple indicted on Friday that pre-orders for the 10th anniversary phone were "off the charts". Apple has ceased to give its own numbers on iPhone sales.
Not a good week for the drug sector. Merck (MRK) dropped 5% to a 52 week low after the company withdrew an application for approval for an additional indication of their wonder drug, Keytruda. No concrete reason for the withdrawal was given. Sales in the US have nearly tripled for Keytruda to $1.05 billion.
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