Apple 2.0

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How an iPhone announcement affects Apple's share price

September 3, 2012: 7:14 AM ET

The old adage -- "buy the rumor, sell the news" -- doesn't necessarily apply

Source: Mashable. Click to enlarge.

FORTUNE -- Last March, Mashable's Matt Silverman, with help from Statista, produced a series of charts showing what has happened historically to Apple's (AAPL) share price in the five days before and after a product announcement.

The general pattern, represented by the small chart above left, was a variation on the old adage "buy the rumor, sell the news." The exception, shown in the large chart at right, was the iPhone.

As of Labor Day, Apple had not sent out any press invitations, but if the rumors are to be believed, the company will unveil the newest edition of the iPhone on September 12, seven trading days from Monday.

Just saying.

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Philip Elmer-Dewitt
Philip Elmer-DeWitt
Editor, Apple 2.0, Fortune

Philip Elmer-DeWitt has been following Apple since 1982, first for Time Magazine, and now on the Web for

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