EXCLUSIVE: Apple's iPhone 16 Launch Will Be 'Disappointment Before The Excitement,' Gene Munster Says
Portfolio Pulse from Michael Juliano
Gene Munster predicts that Apple's iPhone 16 launch will initially disappoint investors, but the stock is expected to rise significantly after the company's third-quarter earnings report due to anticipated AI features. Apple shares fell 2.72% recently, and ETFs holding Apple also declined.
September 03, 2024 | 8:37 pm
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NEUTRAL IMPACT
Apple's iPhone 16 launch may not boost shares immediately, but AI features could drive significant stock growth post-Q3 earnings.
Gene Munster suggests that the iPhone 16 launch will not immediately impact Apple's stock price as expectations are already priced in. However, the anticipated AI features could lead to a significant increase in stock value after the Q3 earnings report.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Direxion Daily AAPL Bull 2X Shares dropped 5.53% as Apple's stock fell.
This leveraged ETF is designed to amplify Apple's stock movements, resulting in a significant decline following Apple's 2.72% drop.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
T-Rex 2X Long Apple Daily Target ETF fell 5.17% following Apple's stock decline.
The ETF is directly affected by Apple's stock performance, which declined by 2.72%. As a leveraged ETF, AAPX experienced a larger drop.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Fidelity MSCI Information Technology Index ETF declined 4.32% amid Apple's stock drop.
FTEC holds Apple shares, and its performance is influenced by Apple's stock price, which fell by 2.72%.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60
NEGATIVE IMPACT
IShares U.S. Technology ETF fell 4.18% as Apple's stock dropped.
IYW holds Apple shares, and its performance is influenced by Apple's stock price, which fell by 2.72%.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60
NEGATIVE IMPACT
Vanguard Information Technology ETF slipped 4.4% following Apple's stock decline.
VGT's performance is impacted by Apple's stock, which fell by 2.72%, leading to a decline in the ETF.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60