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Apple Moves Higher Into Verizon Announcement



January 10, 2011 – Comments (0) | RELATED TICKERS: VZ , AAPL

Apple Inc. (NASDAQ:AAPL) is floating higher today in anticipation of tomorrows announcement by Verizon Communications Inc. (NYSE:VZ). Verizon is expected to announce the availability of the iPHONE.  Up until now, AT&T Inc. (NYSE:T) has had exclusive rights to the iPHONE. This has been long anticipated and seems to be coaxing buyers into Apple today. Apple is trading at $340.81, +4.69 (+1.39%).  Apple has a history of running up into announcements only to see some sellers come in after on profit taking. This may be happening today. It will be very interesting to see if the iPHONE has any bells and whistles or if it is the standard phone. Many analysts are talking about this pushing Apples share price far higher as it fuels earnings. While this may be somewhat true, the hype is usually always more than reality.

Gareth Soloway

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