Wall Street rarely changes its mind about a stock on the day a new phone gets announced. The number an ****** yst publishes is a bet on earnings two or three years out, and a keynote does not move that math on its own.
That's why ****** yst notes pile up in the days before an Apple launch. Firms restate where they stand, walk investors through what they expect on stage, and save the real estimate revisions for the quarter that follows.
Bank of America filed its note on Sept. 8. The rating and the target did not move. What sits underneath them did, however, and that's the part worth reading.
Apple (AAPL) shares closed at $316.22 on Sept. 8, down 1.17% on the session, according to StockAnalysis.com. That leaves the stock roughly 8% below the 52-week high of $344.57 it set in late July, with a market value near $4.61 trillion.
The pattern around these events is well documented. Shares have often drifted lower into a launch and again just after it, then recovered over the following 30 to 60 days, a cycle Bank of America mapped across 24 iPhone launches dating back to 2007.
#America #analyst #launch
That's why ****** yst notes pile up in the days before an Apple launch. Firms restate where they stand, walk investors through what they expect on stage, and save the real estimate revisions for the quarter that follows.
Bank of America filed its note on Sept. 8. The rating and the target did not move. What sits underneath them did, however, and that's the part worth reading.
Apple (AAPL) shares closed at $316.22 on Sept. 8, down 1.17% on the session, according to StockAnalysis.com. That leaves the stock roughly 8% below the 52-week high of $344.57 it set in late July, with a market value near $4.61 trillion.
The pattern around these events is well documented. Shares have often drifted lower into a launch and again just after it, then recovered over the following 30 to 60 days, a cycle Bank of America mapped across 24 iPhone launches dating back to 2007.
#America #analyst #launch
3 days ago
