Investors expecting Apple Inc.’s biggest product event of the year to serve as the next catalyst for its recently-revived stock are likely to come away disappointed.
After posting the best month in more than a year in August on relief from President Donald Trump’s tariffs, Apple shares have continued to rise with another 3.3% advance last week in the wake of an antitrust ruling that allowed the iPhone maker to continue receiving billions of dollars in Alphabet search payments.
“It’s hard to recommend opening or building a position going into the event, especially following this rally, since we’re not expecting to see the kind of features that will get people really excited to buy,” said Clayton Allison, portfolio manager at Prime Capital Financial. “If it continues to stumble with AI, I worry about the stock.”
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