Apple Inc (AAPL)

[Investors3]

Morgan Stanley expects Apple Silicon advances at WWDC to fuel Apple stock surge
Friday, June 4, 2021 5:05 pm

Morgan Stanley expects Apple’s WWDC keynote to be more of a catalyst for Apple stock than it has been historically, thanks to a spotlight on Apple Silicon.

Mike Peterson foR AppleInsider:

Over the past 10 years, Apple has underperformed the S&P 500 by a median of 120 basis points and 110 basis points in the first week and second week following a WWDC event. In the month after a developer keynote, it outperformed the S&P 500 by 70 basis points.

However, in the last two years, Apple stock performance post-WWDC has been more pronounced, [Morgan Stanley analyst] Katy Huberty writes. Apple outperformed the S&P 500 by 440 basis points in the first week after an event and 600 basis points in the month after.

“While we expect the majority of software/operating system upgrades to be more evolutionary than last year, we do believe Apple will highlight efforts to broaden the use of in-house designed silicon, and potentially launch a new MacBook with the Apple Silicon, making this year’s WWDC a potentially more significant catalyst than years past,” Huberty writes.

MacDailyNews Take: While WWDC is generally software-focused, hardware that is of particular interest to developers can appear during the keynote address, so the chances of seeing the new 14- and 16-inch Apple Silicon-powered MacBook Pros appear at WWDC 2021 are good.

https://macdailynews.com/2021/06/04/morgan-stanley-expects-apple-silicon-advances-at-wwdc-to-fuel-apple-stock-surge/