How Apple’s stock tends to trade around its September event

Apple Inc.’s stock historically trades lower leading into its flagship September hardware event, then rebounds leading up to the next-generation iPhone’s actual launch a few weeks later, according to an analysis from UBS.

The data, which reflects historical short-term stock performance around Apple’s AAPL, -0.03% product announcements, shows the stock increased an average of 4% from the early-September event to launch for the iPhone 5, iPhone 6 and iPhone 6s. Apple is expected to announce the iPhone 7 on Sept. 7.

The stock then tends to decline again, by an average of 4% two weeks after the device’s launch, UBS said.

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