Apple stock has never closed up on the first day of WWDC, says BTIG

BTIG analyst Walt Piecyk wrote Monday that WWDC usually hurts Apple Inc. shares rather than helps. "Notably, Apple stock has never closed up on the actual first day of WWDC, but has closed down 1.2% on average," Piecyk wrote. "Apple stock has also typically sold off the day after WWDC by a roughly similar amount." Apple shares have gained in the month leading up to the conference, which Piecyk said is typical. The company kicks of its developer conference with a keynote address at 1 p.m. ET on Monday. Shares are up 1% in Monday trading and up 24% over the past 12 months, while the Dow Jones Industrial Average has gained 17%.