“U..S markets are rallying again, and that has helped Apple bounce more than 10% off its yearly low,” Bill Maurer writes for Seeking Alpha. “While there was some enthusiasm after Berkshire Hathaway bought a stake in the technology giant, many still wonder what the company has in store with the iPhone 7. Next week’s Worldwide Developers Conference will provide some key clues, but investors should beware the stock’s underperformance during this event.”
“Of the 14 weeks above where shares have declined during WWDC, the average down week was 3.86%,” Maurer writes. “Given Apple’s recent rally and US markets’ near highs, we could be setting up for another decline.”
“I recently stated that Apple needs to provide some sort of major surprise at WWDC, and I still believe that is true,” Maurer writes. “If the company just details some little updates to its operating systems, we’re likely to see the annual WWDC week pullback in shares.”
Read more in the full article here.
MacDailyNews Take: Apple doesn’t “need” to do anything, but we’d certainly welcome “some sort of major surprise!”