Apple Not Expensive Due to Large Cash Pile: Basi

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Oct. 29 (Bloomberg) - Matt Basi, head of sales trading at CMC Markets, discusses key earnings reports from Apple, UBS and Lloyds. He speaks on Bloomberg Television’s “Countdown.”


Let's start with apple.

Initially, the stocks fell.

The initial reads on the margins were disappointing and apple explained that away.

Christmas sales will be the weakest in five years.

There is something for everything.

Plus lots to pick through.

-- there is lots to pick through.

Obviously, the cash pile blue -- grew.

If you look at the cash pile, it is not expensive stock.

Do think it got more upside?

It is a commonly held stock.

It is well traded by our clients.

25% below?

Historically, you could see it reapproached the 700 million dollars scale.

You wonder if he gets his way, if there'll be a bigger buyback?

Making progress, isn't it?

It is.

Over the course next 12 months, once this clears out, there is a potential for higher shares of profit was up do think we'll hear about another tranche sale?

The government could be rid of it in the next months.


We started to see the government announced another sale, given the numbers that we have seen this quarter.

Talk ppi.

They have half the industry.

They are 8 billion, after the 750 million.

That is the story.

It is priced into the stock.

The story keeps growing.

We've seen this in the banking sector.

The government and does not need to worry -- the government does not need to worry about that price.

We've seen the price above the breakeven level.

We have seen the stock well supported.

Talking about litigation, deutsche bank missed debt trading.

We note that they suffered from that.

Ubs and the regulators have said that they will hold more capital because of litigation.

What is the take away?

The main concern is the forward guidance.

The guidance will probably cost a negative cross section at the open.

They're processing litigation at the moment.

Jpmorgan litigation costs, if we look out to the u.s., we see a potential for people being cautious with deutsche bank, given the global story.

Do see that playing and favoring jpmorgan?


Jpmorgan has price things.

There'll be concerns that the story could get worse.

A common trade would be to counter that with an exit position.

If you are bullish, aren't you question mark generally speaking was up there is no reason to think there is an end in the rally at this point.

We are pricing in march tapering at the earliest stop we are not seeing further upside.

The fed kicks off their two- day meeting.

My colleague was saying that tapering and adding to qe.

I think asset bubbles will prevent that.

I do not see any real justification for it.

They will see a hold until march.

Thank you for joining us.


This text has been automatically generated. It may not be 100% accurate.


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