How Apple’s Event Could Affect Your Penny Stock Watchlist
Apple events are always major catalysts for penny stocks and blue chips. While the unveiling of a shiny new iPhone may not seem like a big deal, it does have larger implications across everything from tech penny stocks to satellite communications companies and more. And for that reason, it’s worth taking a closer look at.
What Do New iPhones Mean for Penny Stocks?
On Tuesday, September 14th, Apple Inc. (NASDAQ: AAPL) will hold its annual iPhone launch event. While some speculate that the event could have other product releases, the main consensus is that it will be around the iPhone 13. Right now, Apple has a lot riding on this event. With work from home increasing dramatically in the past year, revenue for the iPhone shot up by 50% year over year.
Alongside this, revenue for other products such as its Mac and iPad offerings, were up by around 16% and 12% respectively. With a holiday season around the corner, investors are hoping that this forward momentum can stay consistent into the near future. While the rumors surrounding what will be released today are only rumors until 1 PM EST when the event begins, there’s no doubt that investors and consumers alike are excited about it.
So, how does this play into finding penny stocks to buy? Well, there are some clear reasons and implications that this event could have for certain small caps. And with that, let’s take a deeper dive.
What the Apple Event Means For Penny Stocks
- Satellite Penny Stocks Are in Focus
- Could Tech Penny Stocks Get a Boost?
- Other Penny Stocks That Could Benefit
Satellite Penny Stocks Are in Focus
One of the rumors surrounding the new iPhone is that it may carry satellite connectivity. This would be a big deal and a first for the world’s best-selling phone. In the past few weeks, Globalstar Inc. (NYSE: GSAT), has been dominated by these rumors, as it is a major supplier of mobile satellite communications products. While no concrete data was presented that Globalstar would be involved in anything Apple-related, investors have speculated that this could be the case.
Only a week ago, an FCC filing came to light stating that Apple was a customer of Globalstar. Although, this did not have to do with the iPhone, but rather a ‘CubeSat’ project for NASA. But, in the past few weeks, shares of GSAT have rocketed on the news with consistent 4-5% daily gains and an over 64% gain on August 30th. Despite shares of GSAT being down by around 3% at midday, shares are still up by over 59% in the past month.
This is a perfect example of high speculation with penny stocks. And as a result, we see that news or even rumors can have a major effect on price. While shares of GSAT are in a shaky position right…