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What impact will the iPhone launch have on Apple’s share price?
On the eve of Apple’s next-generation iPhone, shares in the company rose sharply, with this rally likely to continue, an industry expert has said.
What impact will the iPhone launch have on Apple’s share price?
On the eve of Apple’s next-generation iPhone, shares in the company rose sharply, with this rally likely to continue, an industry expert has said.
Wall Street as a whole ended sharply higher on Monday (US time), as technology giant Apple jumped 6.4 per cent, adding a further US$128 billion to its stock value in anticipation of its newest phone.
Analysts expect Apple to introduce a selection of iPhone 12 models in multiple sizes tailored to work with the new 5G telecommunication network being rolled out across the world.
According to eToro’s market analyst, Adam Vettese, investors are right to add to their shares in Apple as the company is likely to rise following the launch of the new phone.
“Most of the time, these launches have a positive impact on share price, which tends to peak within 60 days,” Mr Vettese said.
He said investors should watch for new tech and “must-have” features that are good enough to prompt users to upgrade their existing phone to the newest iPhone on the market.
“With a tag line of ‘Hi, speed’, enthusiasts are speculating on 5G capabilities for the iPhone 12, but will it be enough to send a horde of loyal Apple users – and investors – on a spending spree? With retail investor involvement at a peak this year, this week’s launch has the potential to move the markets far more than any other in the firm’s history.”
He also told investors looking to get into the company that it is now an opportunity to buy following its four for one split of its share price on 31 August.
“Apple sailed into the fourth quarter, beating analysts’ estimates for Q3 and hot on the heels of a stock split that instantly made it more accessible to 2020’s army of retail investors,” Mr Vettese concluded.
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