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Apple’s no.1 stock for millennial traders again post iPhone event

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Apple regained its position as the number-one stock of choice among millennial traders in the week of its big product launches.

According to data from Robinhood, an online commission-free brokerage popular with younger investors, Apple replaced Facebook as the most-popular stock on the platform in the week through September 13. The world’s most-valuable company held its event Wednesday to unveil the iPhone XS, XR, and Apple Watch Series 4.

Preorders for the iPhone XS and new watch begin on Friday and the products will ship a week from then. It’s unclear how much interest in Apple’s stock picked up after the event on Wednesday.

For one, the company had no major surprises because the lineup of products and most of their descriptions had already been leaked and reported on. Also, Robinhood data compiled by Markets Insider show that Apple is consistently a popular stock among millennials, and outranked all others in 19 of the past 26 weeks. However, it was the most popular stock this week for the first time in eight, coinciding with the product launches. Besides Apple and Facebook, other consistently popular stocks include General Electric, Ford,Microsoft, and AMD. Apple shares gained 2 per cent in early trading on Thursday.




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