Previewing Apple’s Week: Pay Attention To Market Movers

Apple is back to early August levels, and the main catalysts of 2020 are now history. In the coming week, expect the US Presidential election and new wave of COVID-19 cases to move the stock.
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Apple stock continues to lose momentum. Shares are now back to early August levels, reached moments after the company’s blowout fiscal third quarter earnings.

The worse news is that Apple has largely run out of catalysts in 2020. The iPhone 12 has been announced, and the last earnings report of the year is now history. Left to support the stock is a potential rebound in the broad market, which optimists hope could happen after the US election.

What to keep an eye on

There will likely be one key topic of conversation dominating the newsfeed this coming week: the US Presidential election.

I have written about what could happen to Apple and its stock if Donald Trump wins or if Joe Biden assumes control of the White House. However, when it comes to knee-jerk share price reaction, I believe that a clean election with uncontested results would be the best outcome for Apple shares.

Otherwise, the evolution of the third wave of COVID-19 cases in Europe and the US could also move the markets and, as a result, Apple’s stock price. For now, it looks like the news are more likely to get worse before they get better.

Read more from the Apple Maven:

Apple This Week: Earnings Bummer

Apple Stock: What If Trump Wins?

Apple Stock: What If Biden Wins?

(Disclaimers: 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)