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13.10.2020

Apple rallies ahead of iPhone event

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The company has a long history of outperforming in the months after the release of its new iPhones

Stocks impacted: Apple (AAPL)

Over the past year, Apple stocks gained over 100% ahead of a highly anticipated 5G iPhone launch. Its shares are up almost 70% year to date. The company is the most expensive on Wall Street with a value of $2.03 billion as of the close of Friday trading. After another big gain on Monday, Apple’s market cap now sits at $2.14 trillion. Overnight, Apple shares rallied over 6% in anticipation of the event where the tech giant is expected to unveil its 5G-capable iPhone 12 line-up. It marks the biggest gains for the company since late-July, when Apple’s stock closed up 10.47% after reporting strong quarterly results. The outlook for the giant’s shares looks upbeat as Apple’s stock has a long history of outperforming in the months after the release of its new iPhones.

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