I went out on a limb last week, and now it’s time to see how that decision played out.
- I predicted that Apple Inc. (NASDAQ:AAPL) would close out the week higher. The consumer-tech bellwether was starting to bounce back after its latest quarterly report, and the market was calling for the company to part with more of its growing hoard of cash. Apple meandered most of the week but ultimately closed 3.1% lower. I was wrong.
- I predicted that the tech-heavy Nasdaq would outperform the Dow Jones Industrial Average. . This has been a tricky call lately, so how did it play out this time? It was a photo finish. The Dow only closed 0.08% lower, but the Nasdaq managed to lose even less ground. I was right.
- My final call was for Michael Kors Holdings Ltd (NYSE:KORS) to beat Wall Street’s quarterly profit target. The high-end retailer of handbags, apparel, and other accessories has been on a tear lately, even while some rival makers of luxury goods have struggled. It was an amazing quarter for Michael Kors. Net sales shot up 70%, powered by a jaw-dropping 41% gain in same-store sales. Analysts were looking for a profit of $0.41 a share. The fashion-forward speedster came through with net income of $0.64 a share. I was right.
Two out of three? I can do better than that.
Let me once again whip out my trusty, dusty, and occasionally accurate crystal ball to make three calls that may play out over the next few trading days.
1.SodaStream will close out the week higher
Shares of SodaStream International Ltd (NASDAQ:SODA) have been moving higher since posting record quarterly results three months ago, and that kind of enthusiasm often leads to a sell-off if the next quarter isn’t as exciting. I’m banking on SodaStream to come through with another blowout performance.
SodaStream continues to gain ground across its growing number of global markets, and one would think the Israeli-based company wouldn’t have invested in its first Super Bowl commercial earlier this month if it wasn’t in a good groove. Whether it’s fresher, cheaper, or more eco-friendly than traditional soda, consumers are gravitating toward the namesake system that turns tap water into fizzy soft drinks.
I see a strong quarter when SodaStream reports on Thursday, and I think the stock will follow suit. My first call is for SodaStream to close the week higher.