Apple’s big event is September 14 — here’s what to expect

Brian Sozzi and Julie Hyman discuss the reasoning behind the sudden frenzy taking place with investors over Apple’s stock as the world continues to await the latest Apple event met to showcase the company’s newest products.

Video Transcript

JULIE HYMAN: Let's get Sozzi's take as we've been talking about pretty much all hour now on what's going on with Apple shares. Leaving aside this idea that the head of their car effort left for Ford, the shares, OK, they're down half a percent today, but they've been doing pretty darn well. They just announced they're going to have an event, what, on September 14th. And it looks like the shares have been getting bit up recently in anticipation, maybe, of the next product rollout. What's going on?

BRIAN SOZZI: Yeah, it's good to see Apple stock coming back in favor. You know, we were talking a little bit about it on the show yesterday, Julie. You know, Apple historically was all over the Yahoo Finance trending ticker page. But, of course, we've seen the rise of meme stocks, and Apple stock hasn't necessarily been on that page until now as making a comeback. I'll have a deeper story on the Yahoo Finance platform now.

But, again, Apple shares up about 7% in the past month. That is double the NASDAQ composite outperformance there. So, in other words, Apple shares are outperforming the broader NASDAQ. Also, it is the second best performing member of the FANG complex. The top one, you may ask, is Netflix. I mean, that stock has gone absolutely bonkers over the past month. Netflix is up 18%.

But, again, Apple notching a pretty solid 7% gain over the past month. Second best performing FANG stock. And it really reflects, I think, a couple of things. One, we did see shares pop yesterday about 2%. Apple coming out with that invitation for a September 14th event at their headquarters, or at Apple Park, as they like to say, Julie, called California Streaming.

And I looked at in my piece here on the site that perhaps they come out with something more in the streaming. Whether it's more content, perhaps. Maybe it's a hardware device that takes on Roku. Unclear what it is. But that title for the event, which is always in focus amongst investors and Apple fanboys and fangirls, sparking interest that perhaps Apple goes more aggressively after an Amazon after a Roku, and of certainly the behemoth in the space, Netflix. So that's just short term in nature too, Julie.

The second catalyst here is the street is getting more bullish on the prospect for the Apple iPhone 13, if that's, in fact, the name they do it. And at the same time, the street is also starting to realize, well, just because the 13 comes out doesn't mean demand for the iPhone 12 5G will completely fall off the map. So you're starting to get a picture emerge, Julie, that Apple might have a very strong next 12 to 18 months around the world as it sells the more expensive likely iPhone 13. Also see some strong demand for the iPhone 12 5G. Also likely to come out with a new Apple Watch. All this stuff historically comes at higher prices. So you're starting to see estimates start to creep up on Apple also supporting the stock price.

JULIE HYMAN: Are they going to call it 13? Do we know that?

BRIAN SOZZI: It is unlucky.

JULIE HYMAN: Or are they going to skip 13?

BRIAN SOZZI: I say they're going to do 13. That's my take.

JULIE HYMAN: Something tells me Apple's not super superstitious, but I guess you never know.