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iPhone 13 Series Launch: Apple shares have fallen on three-quarters of the days Apple has unveiled new iPhones. And the reason why? “Any positive impact of a new release has typically already been priced into the stock,” the research company said in a note to clients on Monday. (Apple )

iPhone 13 Series Launch Event: Apple shares are unlikely to rise as a result of any announcement made today during the live event.

Apple Inc. shareholders looking to recoup losses from last week’s App Store ruling shouldn’t expect much help from its iPhone event on Tuesday, if history is any guide. 

The technology giant’s shares have fallen on three-quarters of the days Apple has unveiled new iPhones, according to data compiled by Bloomberg. Excluding Apple’s 8.3% rally on the day co-founder Steve Jobs announced the first iPhone in 2007, Apple shares have fallen an average of 0.8% the day of a debut. 

The poor performance is probably the result of investors becoming accustomed to regular innovation from Apple and many of the details being reported prior to the presentations, according to Bespoke Investment Group.

“Any positive impact of a new release has typically already been priced into the stock,” the research company said in a note to clients on Monday.

Apple shares have posted double-digit gains this year, on pace for its third annual climb, boosted by investor optimism on its growth outlook. But the stock took a hit last week after a federal judge ordered the company to alter its App Store business model. 

The shares posted their biggest drop in four months after the ruling, with the selloff at one point wiping out $85 billion market value from the company. The stock was 0.2% higher on Tuesday in morning trading in New York.

Read more: Apple Loses $85 Billion in Value After App Store Ruling 

Still, Wall Street is sanguine on the stock. 

About 80% of 47 analysts covering Apple have a buy rating on the shares, with only two recommending to sell it, according to data compiled by Bloomberg. On average, they expect Apple to climb another 11% over the next 12 months as of Monday’s closing price.

In addition to introducing a lineup of iPhones with new camera features and faster processors, Apple is expected to show off new watches and AirPods. The Cupertino, California-based company’s presentation is scheduled to begin at 10 a.m. local time.