Shares of holding company Club Apple (AAPL) steadied on Monday, a day ahead of the tech giant’s annual September product launch event. Now, the question is whether there will be enough enthusiasm from investors when Wall Street gets a peek at the iPhone 15 to overcome the concerns about China that hit the stock hard last week. Before news broke that Beijing was moving to ban government employees from using foreign-branded iPhones and other devices in the workplace, things were looking up for Apple stock. Despite taking a brief dip on quarterly earnings in August, the stock then rose more than 9% from the middle of last month through September 5. Historically, the run-up to the iPhone maker’s annual product event will be held on Tuesday. was bullish for stocks. This has been especially true since 2016, when Apple began to consistently outperform the S&P 500 Index. Looking at historical data from 2016 from the 10 trading sessions before the annual product event and then through the end of the year, here’s how Apple behaved every year. Apple’s historical performance Apple remained stable in 2016, before the media event, when the company announced the iPhone 7 and 7 Plus. The stock then jumped 6.96% after the event, until the end of 2016. In 2017, shares fell 0.37% during the 10 days leading up to the product launch in September, before rising 5.19% at year-end. But in 2018 the stock rose 0.61% in the 10 days before the event, only to fall 28.6% during the rest of the year. With the launch of the iPhone 11, Apple grew 4.9% in the 10 days leading up to the September 2019 event, and then increased 35.5% through the end of the year. The company grew 6.14% before the 2020 event, before rising 9.5% through the end of the year. In 2021, in the wake of the Covid-19 pandemic shaking the market, the tech giant lost 3.21% in the 10 days leading up to its event. However, the company grew 19.88% after the event, for the rest of the year. Last year, Apple posted huge gains and saw a 13.64% increase in the 10 days leading up to the event. Subsequently, the tech giant stumbled 16.69% after the event through the end of 2022. AAPL Mountain 01-01-2016 Apple Inc. (AAPL) Year-to-Date Performance The launch event of this he year, for the iPhone 15, has been dubbed the company’s “Wonderlust” and will include a presentation from CEO Tim Cook from Apple headquarters in Cupertino, California. But recent news from China has made Tuesday’s planned launch of the iPhone 15 an even more anticipated media circus than usual. Although Apple lost $200 billion in market value during a two-day streak of losses last week, many on Wall Street see this as an overreaction. The stock has since recouped some of those losses. Wedbush Securities called last week’s sell-off “overblown,” adding that Apple “has seen massive stock gains in [China’s] smartphone market”. Elsewhere, Goldman Sachs estimated that a potential Chinese government ban on iPhone use by state employees would account for about 7.5% of China’s employed population, with an implied 1% impact on Apple’s revenue. For his part, Jim Cramer continues to back the Club on Apple: “If I really felt a disaster was coming, I would suspend,” he said of Apple last week, noting that his report confirmed that Chinese consumers are still “buying Apple like crazy.” (Jim Cramer’s Charitable Trust is long AAPL. See here for a complete list of stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charity’s portfolio. If Jim talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. YOU ARE SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY, TOGETHER WITH OUR DISCLAIMER. NO OBLIGATION OR FIDUCIARY DUTY EXISTS, OR IS CREATED, BY VIRTUE OF THE RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC RESULTS OR PROFITS ARE GUARANTEED.
Apple CEO Tim Cook speaks during Apple’s Worldwide Developers Conference (WWDC) at the Apple Park campus in Cupertino, California on June 5, 2023.
Josh Edelson | Afp | Getty Images
Club holding shares Apple (AAPL) stabilized on Monday, a day before the tech giant’s annual product launch event in September. Now, the question is whether there will be enough enthusiasm from investors when Wall Street gets a peek at the iPhone 15 to overcome the concerns about China that hit the stock hard last week.
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