Apple (AAPL) typically performs well ahead of a new iPhone release, says Citi.
And when the iPhone 15 is released this September, it should do well again. In fact, Citi analyst Atif Malik – who maintained his Buy rating and said the shares could climb another 36%, according to Barron’s – just opened a 90-day positive catalyst watch on AAPL.
All ahead of the expected release of the iPhone 15 in just weeks.
The analyst added that the AAPL stock “outperformed the S&P 500 during the period between June quarter earnings and the September iPhone announcement every year since 2016. It has climbed 8% on average over that period.”