Apple event 2023: iPhone reveals are often a dip buyer’s dream

tech.hindustantimes.com:

Apple Inc.'s iPhone debuts have historically been a sell-the-news event for the stock, but the weeks following often provide an even better opportunity to buy the dip.

Over the past five years, September has been the worst month of the year for Apple, with the shares averaging a decline of 4.5%, compared with a drop of 3.2% for the S&P 500. At the same time, October has been among the best, with an average gain for Apple of 3.8% over the same period. Also, Catch all the iPhone 15 Live Updates here.

“If you're a long-time holder and you see this as becoming a consumer staple company, these pullbacks are opportunities,” said Gene Munster, managing partner and co-founder of Deepwater Asset Management.

While the stock has usually risen in the months ahead of the event, this year's lead up has been troubled. Apple shares slumped in August after a disappointing earnings report and the slide has continued this month amid concerns about government restrictions on iPhones in China, its biggest international market. In total, Apple has lost nearly $300 billion in market value since closing at a record on July 31.

The fears about China and the seasonality around the iPhone events have provided a compelling entry point, according to Jason Benowitz, senior portfolio manager at CI Roosevelt Private Wealth.

“The U.S. and China both need Apple to create employment and wealth for their respective nations,” he said. “These fundamental facts are unchanged by the recent media reports, and we expect Apple to successfully operate in China for many years to come.”

Apple's event is scheduled to kick off on Tuesday at 10 a.m. in California and feature the iPhone 15 line, along with next-generation watches and AirPods. The iPhone lineup will include