Apple stock could perform better than usual this December

Since 1981, December ranks as the third worst month for Apple stock, according to Dow Jones Market Data, but there are reasons why Apple stock could perform better than usual this time around.

Angela Palumbo for Barron’s:
‎

The stock has an average return of 1.5% in December, which is better than the 4.3% historical decline in September, its worst month, but not close to the 6.4% historical jump in October, its best month.

This December could be a solid one, though, especially compared with last year. Apple stock fell 12% in December 2022 as the company struggled with major supply issues at its iPhone facility in Zhengzhou. While analysts have reported that Apple is facing some supply constraints this year, it is nowhere near as bad as it was in 2022.
“The China Covid constrains a year ago—it was the Grinch for holiday season in 2022. 2023 is a much more normal holiday season for Apple and there have been no cuts around production, which is a very positive sign heading into Christmas,” [Wedbush analyst Dan] Ives said.

On top of improved supply, Ives said he believes Apple has seen a relatively steady demand environment for the iPhone 15.

‎
MacDailyNews Note: Ives rates Apple stock as Outperform with a $240 price target.
‎
Please help support MacDailyNews. Click or tap here to support our independent tech blog. Thank you!

Support MacDailyNews at no extra cost to you by using this link to shop at Amazon.

The post Apple stock could perform better than usual this December appeared first on MacDailyNews.