Get Real: New iPhone, Cannabis Legalization, and Stocks in 2020
In today’s Get Real market newsletter, we saw that Apple plans to release another cheap iPhone model and Biden confirms his stance on cannabis legalization.
Nov. 20 2020, Updated 4:41 p.m. ET
In this morning’s Get Real market newsletter, we saw that Apple plans to release another cheap iPhone model, Biden confirms his stance on cannabis legalization, and what to expect from stocks in 2020.
Must-knows
Another cheap iPhone from Apple?
Since 2016, Apple (NASDAQ:AAPL) has worked to accommodate a broader range of smartphone consumers. At the time, Apple introduced the iPhone SE for $399. Apple plans to introduce another cheap iPhone model this year, which caused the stock to rise.
Beacon Securities is bullish on Curaleaf
Russell Stanley of Beacon Securities reiterated his “buy” rating for Curaleaf Holdings (OTCMKTS:CURLF). The analyst gave a target price of 25 Canadian dollars, which implies a return potential of 178.7% from its closing price of 8.97 Canadian dollars on Tuesday. Despite the capital market environment, Curaleaf has a strong cash position.
Biden doesn’t support marijuana legalization
Although many Democratic presidential candidates support cannabis legalization, Joe Biden doesn’t. He thinks that marijuana should be decriminalized. However, he said that more research is needed before marijuana is legalized at the federal level in the US.
What to watch for
Will Hexo struggle in 2020?
Overall, 2019 was a tough year for the cannabis sector. Hexo (TSE:HEXO) withdrew its fiscal 2020 outlook due to various headwinds. We’ll have to see if the stock manages to rebound this year.
Is Cresco Labs a good bet this month?
As of Wednesday, Cresco Labs (OTCMKTS:CRLBF) trades at 8.30 Canadian dollars—a fall of 7.1% since the beginning of this year. So far, the company has underperformed its peers and cannabis ETFs. However, analysts expect the company’s revenues to rise in 2020.
Will Missouri see marijuana legalization in 2020?
Many US states are working towards marijuana legalization in 2020. Missouri residents want to get legalization on the 2020 ballot. Missouri has until mid-May to gather 160,000 signatures to qualify for the November ballot.
What to expect from AMD’s Q4 earnings
Advanced Micro Devices (NYSE:AMD) is scheduled to report its fourth-quarter earnings results on January 28 after the market bell. The company expects its revenue and gross margin to be higher in the fourth quarter. Overall, analysts are optimistic about AMD’s upcoming earnings.
