Apple News Event and Market Narrative

At a special event today, Apple (AAPL) unveiled its new iPhone 11, along with other promotional material. Looking back on today’s AAPL market performance, we try to construct a narrative post hoc to attempt to explain the market’s collective behavior.

Backdrop: NASDAQ has fallen the past few days, presumably because of renewed government investigation into Google and Facebook power and business practices.

The chart below, rather than being conclusive, instead poses questions about today’s AAPL movement.