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Later today, Apple (AAPL) is scheduled to unveil its new iPhone 15 product line, along with next-generation watches and AirPods. According to Bloomberg News, the iPhone lineup will include two entry-level and two high-end models. Apple’s new iPhone debuts have historically been a sell-the-news event for the stock, but the weeks following the launch have been a better opportunity to buy the stock dip.
Shares of Apple typically move higher in the months ahead of a new product launch. This year, however, has been different. Apple shares retreated in August after it reported its third straight quarter of declining sales and predicted a similar performance this quarter, hurt by an industrywide slump that has dented demand for phones, computers, and tablets. Then, this month, Apple stock took a hit amid concerns about government restrictions on iPhones in China, the company’s biggest international market. Apple has lost nearly $300 billion in market value since closing at a record on July 31.