Scalper1 News
Apple ( AAPL ) marked its first anniversary on the Dow Jones Industrial Average Friday with a fractional gain. But over the past year, the iPhone titan’s shares have fallen 17.6%, proving critics right when they say that stocks that join the blue-chip index are often past their prime. Ironically, AT&T ( T ), which was kicked out of the blue-chip index to make room for Apple, has risen 14.8% over the past year. Apple has had a tough year. Its Apple Watch has not been a blockbuster, while iPhone sales disappointed in the holiday period and should fall year-over-year in the current quarter. Apple will unveil a new, smaller smartphone at a Monday event, along with other products. But some analysts say that Apple’s event won’t excite . Apple’s slide is hardly unusual. Intel ( INTC ) and Microsoft ( MSFT ) were added to the Dow at the tail end of the dot-com boom. Microsoft marked time for the next 15 years, finally hitting new highs late last year. Intel is still well off its all-time highs. Bank of America ( BAC ) stands out. Added to the Dow in early 2008, its shares crashed 91% over the next year during the financial crisis. The Dow dropped Bank of America in late 2013, only to see its shares shoot up 17% over the following year. Alcoa ( AA ) and Hewlett-Packard, kicked out at the same time as BofA, rose 96% and 73%, respectively, in the next 12 months. But joining the Dow doesn’t have to be the end. Nike ( NKE ), one of the late 2013 additions, popped 17% in the next year and continued to outperform until its December 2015 peak. Nike reports earnings on Tuesday. Scalper1 News
Scalper1 News