Apple Stock: Should You Buy the Dip Ahead of Tuesday's iPhone 15 Launch?

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2023-09-07 14:29:49  • 5 mins

Apple (AAPL) stock could be in for even more turbulence after enduring a quick correction in August. Wednesday's 3.5% single-day plunge on the back of the Chinese government's iPhone ban for government workers - compounded by today's ongoing weakness - has effectively dashed any hopes for a near-term breakout.

That said, let's not discount the potential for Apple's upcoming iPhone showcase to delight investors, even as the market tides look to turn against big tech. Apple's "Wonderlust" event is on tap for next Tuesday, Sept. 12, and the curtain is expected to be pulled back on a handful of new hardware.

Now, there's no question that consumer spending has hit a bit of a snag of late, due in large part to persistent inflationary pressures. Many consumer goods firms - Apple included - have seen their sales slump in recent quarters. That said, the macro headwinds hitting consumers are less of an Apple problem and more of an issue for everyone else.

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