“Wondering what’s going on with Apple’s (AAPL) share price with a big iPhone announcement just around corner?” Philip Elmer-DeWitt asks for Fortune.
“Andy Zaky has been tracking the trading patterns before and after Apple’s special events on his Bullish Cross blog (now behind a paywall) for several years,” P.E.D. reports. “He offers these observations (I quote): ‘The stock is usually up pretty big in the two weeks ahead of the event. In fact, in the previous 4 iPhone releases, the stock was up between 2.5% and 18.1%. For the iPhone 4, we saw a 3.73% rise over the two week period ahead of the introduction. This time, the stock is down rather dramatically. Almost $17.00 from where it was trading at last Tuesday (2-weeks before the keynote). So maybe that means this time Apple will rally?'”
Read more in the full article here.