Apple Stock Faces Sell The News Curse With iPhone Launch

▤ Summary

Shares of the tech icon tend to rise ahead of a new iPhone introduction as anticipation builds for what the new product will bring.Then Apple stock usually drops on the day of the launch event, following the old Wall Street saying, "Buy the rumor, sell the news.For the past 10 iPhone introductions, since the original handset, Apple stock has fallen on average 0.4% on the day of the unveiling.Analysts expect Apple to introduce three 12th-generation iPhones at it annual fall product launch event , being held at the companys Cupertino, Calif., headquarters.Three Wall Street firms raised their price targets on Apple stock on Monday and Tuesday: Loop Capital Markets, S&P Equity Research and UBS.

▦ Linked Companies

Apple Inc.

$1B+