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Apple To Dominate US Session

Published 09/09/2014, 10:12
Updated 03/08/2021, 16:15

A negative finish yesterday saw US markets once again struggle to push to new highs as falling Crude Oil prices helped drag energy companies lower, and in the absence of any significant economic data releases this weakness could well spill over into today’s opening prices as well.

Today’s price action looks set to be dominated by today’s Apple Inc (NASDAQ:AAPL) new product launch of the new iPhone 6.

Apple has had a number of press events over the years but the anticipation around this one is probably more palpable given remarks earlier this year by Apple VP Eddie Cue that the company had the most exciting pipeline in 25 years.

This has inevitably raised expectations about today’s announcement to elevated levels, with the share price already 33% higher since those comments were made.

Given last week’s launch of a new Samsung Electronics Co (LONDON:0593xq) phone any disappointment from today’s announcement could well place fresh downward pressure on the share price after last week’s sharp sell-off on the back of the negative publicity surrounding iCloud security issues.

There is also a great deal of anticipation about the announcement of a wearable device, or iWatch, tied in with fitness apps, and investors will be looking for signs of progress here as well, as well as a mobile payments platform.

Mobile payments, or NFC, are likely to be of particular interest given Apple’s security problems last week. Given the increasing amount of user data being uploaded into the cloud Apple needs to prove and reassure that it will treat its user’s data with a lot more care than has so far been the case.

In an increasingly hostile environment, web and data security is likely to grow in importance and Apple needs to show that it has its client’s best interests at heart in this regard.

It’s also been two years since we saw an iPad update so we might get some detail on potential upgrades here as well.

  • The Dow 30 is expected to open 16 points lower at 17,096
  • The S&P 500 is expected to open 1 point lower at 2,000

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