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UBS: Here’s what Apple’s stock will likely do after the new iPhone announcement (AAPL)

Apple is expected to unveil three new iPhone models — including the dramatically redesigned iPhone X — today at its first event inside the new ‘spaceship’ campus. UBS technology analyst Steven Milunovich says there’s a distinct pattern in how Apple’s stock price reacts to these product launches. “Based on the last five iPhone announcements, the stock has a reasonably consistent pattern: down in the two weeks preceding the event; up/down 1-2% the day of the event; up between the event and launch (phone availability about two weeks later); weak in the two weeks post launch; and then up going into earnings,” he wrote in a note out Tuesday morning.
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