Wednesday, September 7, 2022 9:48 am5 Comments

• News

Apple shareholders who are hoping that the introduction of a new line of iPhones and Apple Watches on Wednesday will help AAPL shares rebound to their January record may be in for a disappointment if history is any guide. Apple stock has fallen seven times on the day the company has launched a model in the past decade.

Subrat Patnaik for Bloomberg News:

When it announces the new iPhone Wednesday, Apple is likely to take shareholder-friendly steps such as higher prices to cushion its margins from inflationary pressures, analysts say. Such moves, though, come during a weakening economy that may make buyers reluctant to pay more for a handset.

MacDailyNews Take: Apple iPhone customers are the most recession-proof smartphone buyers.

“Apple’s fall iPhone launch event has always been the ‘worst kept secret,’ with investors aware of most of the product lineup to be announced heading into the event,” Samik Chatterjee, an analyst at JPMorgan Chase & Co., wrote in a note. “Investors will be keenly watching iPhone prices in the backdrop of an increasingly challenging macro with concerns around consumer spending.”

MacDailyNews Take: Ahem: Apple iPhone customers are the most recession-proof smartphone buyers.

Historically, the shares tend to rebound a couple months after the event, as early sales figures trickle in. However, even that respite has evaded the stock after the last two iPhone announcements. Apple’s shares are down 13% this year, heading for their first annual decline since 2018.

MacDailyNews Take: These “concerns” about slightly higher prices for iPhone Pro are specious.

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