(FinancialPress) — September 12th is a key date for tech giant Apple (Nasdaq:$AAPL), as the flagship iPhone 8 is set to be unveiled. Historically, the company’s stock has risen , as has the market with it, around these events.
Such was the case this time around. Company stock reached a record-high of $164.94 on September 1st. It has slightly lowered from that point, closing down at -0.3% ahead of the event. It remains within a 5% buy range.
The record value was recorded the day after the unveil date was announced.
Regardless of the minor dip, the S&P as a whole opened at a record high today, riding high on the reveal wave and bolstered even more by Irma‘s further weakening. Nine out of its 11 indexes experienced gains, with the materials index (.SPLRCM) leading the pack.
As part of the preparations for the massive traffic expected after the event, the Apple Store has been taken down. “We’ll be back. We’re busy updating the Apple Store for you. Please check back soon,” the site reads. This is standard procedure before their launch events.
The iPhone 8 marks the 10th anniversary edition of the massively popular gadget, which has the market expecting it to pull out all the stops for the most eye-popping product in the line so far.
Among the rumors about its features, an edge-to-edge display that would cover almost the entire front of the device, an upgraded processor, new dual-lens camera, a glass finish and wireless charging (refill without going near a socket), along with a stunning new design and plenty of extras, stand out.
Rather than iPhone 8, it could be dubbed the “iPhone X“.
The iPhone 8 reveal is set for today, at 1:00 p.m. ET., at the Steve Jobs theater. You can follow it on their website https://www.apple.com/apple-events/september-2017/ live.