Where’s the big bounce in Apple stock?
Apple’s stock barely budged after the technology giant unveiled the iPhone 5, which it bills as the world’s thinnest smartphone.
Investors seemed to shrug off the announcement -- but that’s not entirely shocking. Apple shares have, on average, fallen 1.4% the day the company launched all of the previous incarnations of the iPhone, according to Morgan Stanley.
The investment bank said the week after Apple announcements haven’t been all that hot either. On average, the stock has dropped 3.6%. The reason: Investors tend to drive up the stock in the days ahead of the announcement, and then collect profits right after the products launch.
Shares of Apple were most recently down 2 cents at $660.57. Though, it is up 63% so far this year.
There is some good news from the Morgan Stanley report, though it might seem kind of obvious by looking at the chart above. Apple has on average surged 12.5% in the six months after a product launch and almost 30% after a year.
So, how high the stock will go is anybody’s guess. Some analysts suggest Apple could even punch through the $1,000 mark. By comparison, Google Inc.stock is at $691 and Facebook shares at just above $21.
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