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

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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.