Apple Stock Higher After WWDC Week: Key Drivers

During Apple's WWDC week, the stock traded 1% upper closing Friday's at $127. The Apple Maven lists below the main topics discussed along the past five days.
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Apple's WWDC week has finished and  (AAPL) - Get Report shares performed solid, trading 1% upper and finishing Friday's session at $127. The Cupertino company's shares gained some ground as they continue to climb towards all-time highs of $143.

See chart below:

Figure 1: AAPL chart on June 11.

Figure 1: AAPL chart on June 11.

3 key takeaways from WWDC 2021

On Monday, June 7, Apple kicked off WWDC 2021 as CEO Tim Cook took the stage in a nearly two-hour long keynote presentation. As usual, the Apple Maven covered the keynote address in real time via live blog

The Apple Maven summarized below the three key takeaways from the event that Apple stock investors should keep in mind.

  1. Below-market expectations
  2. It's about the ecosystem
  3. Privacy is key

Read more: Apple Stock: 3 Key Takeaways From WWDC 2021

Figure 1: Apple's CEO Tim Cook during the WWDC 2021.

Figure 1: Apple's CEO Tim Cook during the WWDC 2021.

What Wall Street is saying about Apple's WWDC

Here is an example of how consensus can be way off the mark. Nearly every Wall Street analyst expected to see Apple unveil at least one hardware update during WWDC: either a new set of MacBook Pro laptops, at best, or simply details on the next generation of M1 chips. But none of it happened.

Below are some key takeaways offered by Wall Street analysts during WWDC week, along with the Apple Maven’s own opinion on their insights and the implications for the stock.

Read more: What Wall Street Is Saying As WWDC Unfolds

How data privacy policy could impact AAPL

Data privacy has been in Apple’s agenda for quite a while. In 2010, when the subject did not make the headlines as often as it does today, legendary founder Steve Jobs made his position clear on the subject:

“Privacy means people know what they’re signing up for, in plain language, and repeatedly”.

His successor, Tim Cook, later stated that privacy policy is “one of the top issues of the century” and that it is important to put “deep thinking” into it. At the start of WWDC 2021, Apple updated its iOS to allow users to better manage how apps track their activity.

Read more: How Data Privacy Policy Could Impact Apple Stock

Apple Car: a bullish driver for AAPL is in the works

The rumor mill is churning again. According to Reuters, Apple could be on the brink of striking a deal for the manufacturing of batteries that would equip the long-awaited Apple Car. The potential suppliers would allegedly be Chinese manufacturers CATL and BYD.

With each leak reported about the Apple Car, it becomes increasingly more likely that the Cupertino company will eventually enter the automotive space. The markets seems to like it: notice below how Apple stock price spiked in early trading, on June 8, most likely a reaction to Reuters’ report.

Figure 2: AAPL chart from June 7-8.

Figure 2: AAPL chart from June 7-8.

Read more: Apple Car: A Bullish Driver For Apple Stock Is In The Works

(Disclaimers: this is not investment advice. The author may be long one or more stocks mentioned in this report. Also, the article may contain affiliate links. These partnerships do not influence editorial content. Thanks for supporting The Apple Maven)