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Apple's Special Event: Stocks To Watch

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Apple's Special Event: Stocks To Watch
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Apple, Inc. (NYSE: AAPL) is hosting the highly anticipated “Gather Round” event Wednesday to announce details of its newest products, including the rumored reveal of three new iPhones.

While Apple shares will remain a main focal point for investors up to and following the event, many other stocks have the potential to move based on the announcements made in Cupertino. 

Suppliers

  • Skyworks Solutions, Inc. (NASDAQ: SWKS) supplies radio frequency chips that are used in iPhones. Earlier this year, following strong Apple earnings, Skyworks stock surged 13 percent.
  • Since the inclusion of organic light-emitting diode, or OLED, screens in Apple products, Universal Display Corporation (NASDAQ: OLED) shares have been far from consistent. From a 50-percent drop in the first half of 2018 to recent 12-percent growth, it's apparent that this stock is susceptible to market changes.
  • Cirrus Logic, Inc. (NASDAQ: CRUS) recently announced its plans to supply noise-cancelling chips in Apple’s newest line of wireless AirPods. Cirrus shares are up to $41.25, from as low as $35.47 before the news. Shares are currently down over 2 percent leading up to the event.
  • Qorvo, Inc. (NASDAQ: QRVO) rocketed earlier this year following the announcement of a big contract with Apple. Shares were up over 18 percent in light of the deal.

Competitors

  • Streaming services Apple Music and Spotify Technology (NYSE: SPOT) are competing head-to-head. Announcements related to Apple Music logistics or improved product capabilities could move Spotify shares.
  • The Apple Watch and Fitbit Inc. (NYSE: FIT) products represent the main contenders in the wearable technology sector. Competition between the two will be reliant on product development, pricing, reactions to potential tariff threats and other factors within the increasingly competitive landscape.
  • After a disappointing earnings report and the impending Apple announcements, Sonos, Inc. (NASDAQ: SONO) shares were down over 20 percent Tuesday. Updates on Apple’s HomePod may create headwinds for Sono’s product line.

Be sure to check back with Benzinga for coverage and updates on the “Gather Round” event. 

Related Links: 

What To Expect From Apple's Sept. 12 'Gather Round' Event

Analysts Expect Rollout Of New iPhones At Apple's 'Gather Round' Event Wednesday

Apple CEO Tim Cook at the WWDC 2018. Photo courtesy of Apple. 

Posted-In: gather round iPhoneNews Events Movers Media Trading Ideas General Best of Benzinga

 

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