Conventional wisdom says that Apple traders buy the rumor and sell the news, but the series of stock charts Deutsche Bank’s Chris Whitmore shared with clients Monday suggest the opposite.
The brief piece explains the exceptions by observing that the 3G launched just before a major recession and the iPhone 5 when the stock was already at an all-time high, but we wouldn’t suggest investing any money on the basis of those six squiggly lines …
Update: BTIG’s Waltyer Piecyk has posted some more short-term historical data, suggesting that the separation of iPhone announcements from WWDC ended the ‘sell on the news’ phenomenon:
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