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Tech fund manager bullish on Apple stock in run-up to iPhone X preorders, but says future uncertain

October 12, 2017

Apple stock is prime for a rally in the run-up to iPhone X preorders on Oct. 27, even if there are concerns about the phone and the company in the future, according to one prominent investor.

“[Apple] tends to rally into these product launches,” AlphaOne Capital Partners founder Dan Niles told CNBC in an interview. He called it a “pretty predictable pattern,” arguing that post-launch, Apple stock tends to struggle for about a month. Shares are said to be outperforming even though analysts are cutting their forecasts.

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