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Market Update 12/09: Nike SNKRS Day 2023 and Apple Event impact on their stocks.
There are several points to look for before we head to the Fall season. Aside from my favorite Pumpkin Spice Latte from Starbucks; here are some events taking place this week which are Nike SNKRS Day 2023 and Apple Event 2023.
Nike SNKRS Day 2023
SNKRS App has revolutionized the way we shop for trainers with its virtual hub. Nike lifts the experience with an in-app event that takes place on Saturday 9 September 2023. Here is the overview of the event day. Although there are more Nike as a company to be seen on JDI Day 2023 compared to its own event, it is still a good catch for its fans who waited for their beloved sneakers to be restocked.
Nike’s stock had constantly declined as it had decreased 17.75% for the whole of 2023. With a fall of 4.52% in the past 5 trading days, and a total fall of 9.64% in a span of one month. The stock traded at $129.50 at the beginning of February 2023.
However, looking from a long-term view, the stock was traded at $83.12 last September 30, 2022, and traded even lower during the Pandemic period when it was traded at $67.45 in early March 2020. Thus, in a 5-year horizon, the stoke had undergone 17% increase.
Based on the consensus by Wall Street analysts, the stock average price target with a 31.79% upside is at $128.72 with a high forecast of $150.00 and a low forecast of $88.00.
Apple Event 2023
One of the most anticipated Apple ‘Wonderlust’ programs is happening tomorrow. Apple Event 2023 will take place at the Steve Jobs Theater, Apple Park on Tuesday, Sept. 12 (10 a.m. PT) and stream online. It is rumored that we will able to see the iPhone 15, Apple Watch Series 9, Apple Watch Ultra 2, and, maybe, an iPhone Flip or iPhone Ultra.
This year’s tagline is “Wonderlust,” a play word from the word wanderlust which means a strong longing for or impulse toward wandering. Will Apple’s upcoming announcements as a return answer to most Apple fans’ prayers?
Will the logo colors — metallic shades of gray, blue, and gold — be a reference to the colors of the new iPhone? Or maybe AirPod? As in the iPhone 14 series, there will likely be four models in the new iPhone lineup: the iPhone 15, 15 Plus, 15 Pro and 15 Pro Max. The most significant anticipated change expected for all the upcoming iPhone announcements to be the shift away from the Lightning connector. In response to pressure from the European Union, which adopted USB-C as a common charging standard, the iPhone 15 series is expected to feature a USB-C port instead of a Lighting port.
There’s one new device that will almost certainly make an appearance: the Apple Vision Pro. The AR/VR headset that had been revealed at WWDC 2023 in June, even though it will only start shipping to customers until early 2024; believes Apple will take this opportunity to hype up the product even more. Further down other Apple product lines, it’s harder to tell what might come and what may wait for early 2024 and beyond.
In response by AAPL.
Apple’s stock had finally seen an increase after its last week’s losses to more than 6%.
Last Thursday, the tech stock dropped more than 3% to $175.15, marking its worst two-day stretches of the year and making it the day’s worst performer of the Dow industrials. This is mainly due to China’s latest ban on iPhones. China has ordered officials at some government agencies not to use iPhones at work.
Nevertheless, it finally climbed as the stock closed after-hours trade to see a 0.3% increase with anticipation of the Apple ‘Wonderlust’ Event that is scheduled tomorrow. Even with the drop last week, the stock is still on a roll with 42.46% increase throughout 2023.
Looking at a long-term perspective, AAPL is a profitable stock to invest in as the stock has risen 218.41% in a span of 5 years. In addition to that, it also pays dividends to its shareholders.
Based on the consensus by Wall Street analysts, the stock average price target with a 16.10% upside is at $206.86 with a high forecast of $240.00 and a low forecast of $167.00.
The key takeaways/market update is a series by AxeHedge, which serves as an initiative to bring compact and informative In/Visible Talks recaps/takeaways on leading brands and investment events happening around the globe.
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