Apple Inc. (AAPL): Dan Nathan Discusses Historical Movement After Past WWDCs

0

Apple Inc. (NASDAQ:AAPL) has historically opened high and closed low during the opening of the company’s Worldwide Developers Conference (WWDC), CNBC’s Dan Nathan has revealed.

Apple, Dan Nathan, Is Apple A Good Stock To Buy

In the Options Action segment of CNBC’s Fast Money, Nathan showed how Apple Inc. (NASDAQ:AAPL) has traded over the course of its yearly WWDC event. He explained:

“This is a name that the investment community has been infatuated with for 10 years now but since that September 2012 top above $700…sentiment has been getting worse and increasingly worse. We just had this shift right now. The stock is up 13% on the year. The company just made this acquisition for Beats. They’re bringing some real creative talent in there and people seem really excited. I just wanted to take a quick look at how this stock, over the last four years, has traded into and out of the Worldwide Developers Conference.”

A yearly event, the WWDC is usually one of the venues where the Cupertino, California-based company chooses to unveil new products and software. The iPhone-maker typically launches a new version of its iOS mobile operating system as well as new Mac computers during the WWDC.

Showing a graph for June 2013, Nathan noted that on the day of the WWDC, Apple Inc. (NASDAQ:AAPL) opened in the highs and closed towards the lows. Looking at the June 2012 data for the stock, Nathan pointed out that the same thing happened saying, “If we go back to June 2012, same chart, look at this: down 3% on the day, closed on the lows.” He said the same pattern can be gleaned from the June 2011 and June 2010 data for Apple Inc. (NASDAQ:AAPL) with the stock trading up at opening and closing low.

He said that there was has historically been a lot of pent up demand going into the WWDC. For this year, Nathan told the team that it is a possibility that if Tim Cook and his team at Apple Inc. (NASDAQ:AAPL) do not meet expectations after the company’s announcements at WWDC, the stock may see people selling it.

Watch the full video below:

Disclosure: None

Suggested Reading:

6 Great Jobs for Animal Lovers

The 5 Best States That Are Hiring

Share.