As Apple is set to release its newest iPhone, two companies may benefit. Here's how.
Apple is expected to release its newest iPhone on September 10. Expected are long lines of people hoping to be the first among their friends to own the latest model.
But there’s another group of people eagerly awaiting the new iPhone hitting the market: telecom companies. Measuring the sector using the SPDR S&P Telecom ETF (the XTL), telecoms are up close to 10% this year, half of that over the past three months.
But two telecoms have had a disappointing summer. Verizon and AT&T are both down about 10% over the last three months and they’re hoping the hoopla surrounding Apple’s latest offering will entice customers into stores.
But will excitement around new iPhones yield excitement for the carriers?
Yes, says Talking Numbers contributor Enis Taner, Global Macro Editor at RiskReversal.com. He says the markets haven’t fully factored in the effects of the new iPhone.
That may be the fundamental story but what do the charts say? Analyzing the technicals of one of these names is Talking Numbers contributor Richard Ross, Global Technical Strategist at Auerbach Grayson. He says there’s one name that has broken through significant technical levels, pointing the stock to a next big move.
Will the new iPhone mean that much to Verizon or AT&T? Watch Taner and Ross analyze these names in the video above to help you decide.
- Technology & Electronics