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Apple Boosts S&P 500 on Analyst Upgrade and New Products

Dan Dzombak
October 21, 2013

Although we don't believe in timing the market or panicking over daily movements, we do like to keep an eye on market changes -- just in case they're material to our investing thesis.

Apple (NASDAQ: AAPL) is up nearly 3% today on an analyst upgrade and the excitement surrounding its event tomorrow. However, Apple's jump is not enough to give S&P 500 (SNPINDEX: ^GSPC) life today: As of 1:30 p.m. EDT, the S&P 500 is relatively unchanged, and the largest exchange-traded fund tracking the S&P 500, the SPDR S&P 500 (NYSEMKT: SPY), is unchanged as well.

Tomorrow Apple is holding a press event where it is expected to announce updates to its Mac Pro desktop computer and MacBook Pro laptop, potentially the latest versions of its iPad and iPad mini, and perhaps even an