Will the Apple Event Inspire Further Record Highs?

Will the Apple Event Inspire Further Record Highs?

By: Ben Myers | YesOption | On:9-09-2014 08:32
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Will the Apple Event Inspire Further Record Highs?

 

Apple Inc. (NASDAQ:AAPL) – International Business Machines Corp. (NYSE:IBM) partnership to start app launch later this year

Apple Inc. (NASDAQ:AAPL) shares gain near its 20-Day EMA which stands at $99.35 ahead of event this evening as the market expected for big announcement. Going forward the stock has strong support near $95, a level from where it has bounced twice in the past. Any big announcement will take the stock above $103.

A couple of months ago, Apple Inc. (NASDAQ:AAPL) and International Business Machines Corp. (NYSE:IBM) went into an exclusive partnership that would enable the companies to work together on a slew of new apps and services. According to the deal, which was announced on the 15th of July this year, IBM was expected to build business centric native apps for Apple devices such as the iPhone and the iPad and also sell iOS devices to its corporate customers. Apple, from its end, was expected to provide a newer and improved AppleCare service which was customized for enterprise needs.

Apps will be tailored to meet client specifications

With less than twelve hours to go for the mega Apple Inc. (NASDAQ:AAPL) iPhone/iWatch event, International Business Machines Corp. (NYSE:IBM) executive Glenn Finch threw some light on this partnership in an interview with Tech Pro Research. He said that IBM will be involved in building about hundred apps for iOS devices. These apps will be developed to meet client specifications and improved based on feedback. The clients will not be restricted to Software field but will encompass a wide range of industries including Financial Services, Healthcare and Telecom.

Apple Inc. (NASDAQ:AAPL) and International Business Machines Corp. (NYSE:IBM) efforts to complement each other

Finch also went on to explain that the service offerings from Apple Inc. (NASDAQ:AAPL) will complement the development efforts of International Business Machines Corp. (NYSE:IBM). AppleCare will be focused on the hardware maintenance part of the equation while IBM will concentrate on maintenance and support of the apps. Apple’s expertise in design and user experience will work hand in hand with IBM’s sales and marketing strategies. The initial apps built under the joint efforts of Apple Inc. (NASDAQ:AAPL) and International Business Machines Corp. (NYSE:IBM) are expected to reach their customers later this year with the promise of more apps in the pipeline to be released next year.

Actionable Insight:

Buy AAPL above $101 for target of $103, $105 with stoploss of $99.5

Sell AAPL below $97.5 for target of $95, $92 with stop loss of $99.

Ben Myers

Ben Myers

Success = few pips, thousand times

Ben Myers is one of the most respected and trusted names in the financial trading industry. Following a long and successful career with HSBC, Bank of Ireland and running his own investment firm

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