Tuesday's Market Minute: An AAPL A Day
Apple Inc. (NASDAQ: AAPL) is expected to announce three new iPhones today at its annual September product launch. There are limited expectations on many upgrades for the new phones and none will have the key 5G technology that many users are anxiously waiting on.
Apple stock matters for the overall market as it is a major component in most of the key indices, including the Dow Industrials, the S&P 500, and the tech-heavy Nasdaq. The high correlation to the major indices means you may want to follow Apple shares as much as the overall market. The tariff skirmish with China has Apple stock in the cross-hairs of the recent market volatility and that should remain until a resolution is imminent. Although Apple is attempting to move production away from China, most of the iPhones are assembled in the country and nearly 20% of business sales are recorded there.
The major focus at the product launch will be with the base iPhone 11 bringing enhanced memory, second back camera functionality, and a handful of other improvements. Another main spotlight of this week's launch may be the flagship iPhone 11 Pro and the iPhone 11 Pro Max, as these smartphones represent the crux of improvements coming in this year's releases. Even though you may not purchase an upgraded phone or other new products, the announcement is expected to move the shares today and could affect the overall market moves into the end of the week.
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