“Apple is expected to trot out the iPhone 7 in the coming weeks, but if the iPhone 7 is like its predecessors, the iconic computer maker’s stock is likely to face static on the day of the new,” Dawn Kawamoto writes for TheStreet.
“Over the last five years, with the exception of the iPhone 5 announcement in 2012, Apple shares have dipped on the day of the announcement, compared to the previous day’s close, according to Apple’s historical stock figures on Yahoo! Finance,” Kawamoto writes. “Despite investors historically pulling back on the day Apple unveils its latest shiny smartphone to its rabid, adoring early adopters, Wall Street watchers point to an opportune time to snap up more Apple shares on the dip.”
“While Barclays sees the potential for a post-iPhone 7 selloff following its introduction, the analysts do not anticipate a sizable drop,” Kawamoto writes. “Here’s one reason why: ‘If investors start to recognize the hand-off to the next mega cycle (iPhone 8) is not that far away (i.e., C2017), the post product announcement selloff may not be as severe, particularly if growth trends are only sluggish but not exhibiting any downward spiral,’ [Mark Moskowitz, a Barclays hardware analyst wrote in a July 27 report].”
Read more in the full article here.
MacDailyNews Take: Scheduling our rabies shots now.
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