We thought you might like a regular update over the next week or three concerning Apples share price movement following the special event last Thursday.
The analyst/commentators you may recall came up with some historical analysis which indicated price rises up to a new device/iPad going on sale followed by some weakness in the following week after it goes on sale.
So this is how’s it going so far:
- Between launch and sale - Actual1 to date + 2.3%
- Week before on-sale – Actual2 to date+ 0.6%
So history is repeating itself … at present. We’ll update you next week after the “on-sale” happening!
Actual1 The closing price on 6th March the day prior to the media event was $530.26. At the actual start (10am PST) of the event the price was $535.16. We have used a rounded average of the two of $533 as the “launch” price.
Actual2 The closing price on 8th March was $541.99. We are using this as the start point for the week before on-sale.
The closing (to date) price on Friday 9th March was $545.17 which incidentally is 1 cent short of the all time closing high achieved on 2nd March.
The on-sale price we will be using is the closing price on 15th March
*Head graphic all rights The Motley Fool