Technology
Nine out of 12 Apple launch events boosted shares within 60 days
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From a note to clients by analyst Wamsi Mohan that landed in my inbox Thursday:
Apple shares have risen 22% over the past 60 days… Figure 2 shows that Apple stock typically does well heading into launch events, with the stock rising 5-10% from its price level 30 days prior to the event. Shares may retreat a few percentage points the day after the event, but, in the past, shares have had positive price performance 60 days after the events, especially after major iPhone releases. If perceived higher pricing is interpreted as a negative post event and the shares pull back, we would see that as a particularly attractive opportunity to buy the stock.
Maintains Buy and $250 price target.
My take: Mohan raised his Apple price target before Labor Day. That put him slightly ahead of the crowd.
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