All eyes are on Apple Inc. (AAPL) Tuesday.
Apple is set to unveil its new iPhone at 1 p.m. ET and expectations are high for the 10th anniversary iPhone. A series of unprecedented leaks points to three different iPhones being announced, including a top-of-the-line iPhone X, which could sport an equally top-of-the-line retail price. Analysts are also expecting Apple to release updates to its Apple Watch and Apple TV lines today.
Simply put, today is going to have a massive impact on Apple's revenues for many quarters to come. But despite the significance that Apple product keynotes have on investors' fortunes, they typically result in rather lackluster days for the stock. In fact, looking back over the last 10 years, AAPL stock tends to fall more often than not the day of an iPhone announcement. Additionally, some analysts aren't all that bullish in the near-term, either.
After shares opened near $163 Tuesday, AAPL stock has now dipped to slightly negative on the day, down about 0.3%.
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But investors shouldn't sit on the sidelines and wait to see what Apple has in store for consumers. While the keynote is unlikely to drive a very big move in Apple's stock price, shares are already clearly in breakout mode right now. In other words, Apple's technical trajectory is still up and to the right.