Apple, Inc will be releasing their long anticipated Iphone X along with some other products at 1 p.m. TODAY.
yesterday in anticipation of this news the stock price op Apple, Inc has risen by almost 2%.
In a picture below you can see the price surge of yesterday.
This is a phenomenon that we can see in cryptocurrency as well. Although the increases are much higher with news of upcoming events. This is because crypto currencies are still in their infancy. ( a little increase in demand can shoot the price dramatically up)
As you can see Apple,Inc has a market cap of around 815 BILLION dollars. This is more than 5 times the total market cap of all cryptocurrencies combined!
In cryptocurrency when the news has passed, often a consolidation period occurs. In my opinion this is because crypto currencies often don't have real usable products yet.
In the graph below you can see the price movement from the past year. In 1 year their stock value has risen with an astonishing 53%. This is HUGE for a company of that size. This means that to further increase their stock value their products have to meet a lot of the expectations of the public.
Expectations are certainly high with this one. The price of this new Iphone will be 1000$.
Maybe this price was chosen to emphasize the fact that it is the 10th anniversary of Iphone.
Also the fact that the new Iphone X will be in short supply initially will have its effect on the market.
If their new products will meet expectations then the price surge will likely continue to climb. On the contrary, if they don't meet expectations we may see a long lasting consolidation/correction period.
What are your thoughts on the future of Apple,Inc stock value ?
What are your thoughts on the new Iphone X or other new products ?