AAPL Shares Are Down Nearly 3% After iPhone 5c Announcement

AAPLdown

Usually after an iPhone announcement Wall Street goes crazy for AAPL stock, sending the price on the up-and-up. But after today’s announcement of the iPhone 5c and the iPhone 5s, AAPL is down nearly 3% as it’s dropped about 14.17 points.

There’s still some time left in the trading day, so the stock could rebound. While the drop isn’t catastrophic, it is a bit surprising as many viewed the iPhone 5c as Apple’s answer to satisfy Wall Street, but it appears that investors aren’t impressed with the iPhone 5c’s price point at $549 off-contract.

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  • “fanbois”

    Actually, I believe Apple’s stock usually spike BEFORE the day of annoucements.

  • tool022611

    Not surprising, there was no wow factor at the keynote. Everything they announced was already known. They didnt release anything unexpected.

  • Steffen Jobbs

    Every time Tim Cook opens his mouth, Apple’s share price goes into the toilet. Maybe he’d better get a stand in. They can hire Ashton Kutcher as a make-believe Steve Jobs. I’ve pretty much given up on hoping Apple’s share price will ever rebound. No matter what Apple management does or whatever new products are introduced, the share price continues to fall. I can only figure Apple management doesn’t have a clue what to do to raise the company’s overall value. Apple’s share price didn’t spike before the announcement, it didn’t spike during the announcement and probably won’t spike after the announcement. It’s like the stock is totally dead as far as being a decent investment. I sure hope Apple puts a little more into R&D in the coming years because Apple isn’t doing anything right when it comes to new hardware or acquisitions. Nothing Apple has done for a year has been able to lift the share price while most tech companies have been up 18% YTD. Even companies that are supposedly in a post-PC funk are doing better than Apple.

  • azwaca

    The rule is – Buy the rumor, sell the news. So today’s drop in price is expected. Plus, Apple doesn’t have a lot of time left in this quarter to bump the earnings numbers enough to push the stock. Wait until the numbers start coming in for Q4 during the pre-holiday push and news of sales in China, Japan, etc. This should drive the price towards $600 or more.

  • rigit_digit

    Today was just another keynote. Yes, the iphone is faster, comes in more colors, takes better pics and has that big brother finger scanner thing, but we already knew this weeks ago. If they showed up with a bigger iPhone, it would have blown people away. Lost opportunity..

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Buster HeinBuster Hein is Cult of Mac's Senior News Editor and lives in Phoenix, Arizona. Twitter: @bst3r.

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