Investors turned bearish on Apple during special event

by | Sep 13, 2017

Naturally expectations were high when Tim Cook took to the stage yesterday in California to reveal the latest editions of the iPhone, which has celebrated its 10 year anniversary this year. 

Investors were poised and hopeful for a big reveal which would send the share price sky-rocketing, but the event turned out to be less groundbreaking than expected. 

A new Apple watch, 4k TV, augmented reality features on the new iPhones, Face ID technology and animated emojis may have pleased the crowd, but investor sentiment generally indicated disappointment, as the share price slipped throughout the presentation, finally landing at $160.86 – unable to surpass its last peak at $164.83 earlier this month.

It didn’t help matters when Apple Executive Craig Federighi took to the stage to demonstrate how to unlock the phone with the brand new Face ID technology, before failing to do so and having to switch devices.

Despite the short term value drop and the company’s reliance on the iPhone for revenues, analysts are generally bullish on the stock. The new iPhones sit at the top of the pack in terms of smartphone technology and will help keep the Apple stock price buoyant, even with hefty price tags for both the iPhone 8 and X.

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ALL RIGHTS RESERVED © INVSTR LTD. 2017

Risk Disclosure:

Invstr is a technology platform, not a registered broker-dealer or investment adviser. Invstr does not offer its own recommendations of any security or provide its own research to any user regarding any security transaction or order. Brokerage services, including fractional trading of US securities, are provided to Invstr users by DriveWealth LLC, a regulated member of FINRA/SIPC. DriveWealth may not establish investment accounts to residents of certain jurisdictions. For more information, including disclaimers, risk and transaction fees click here. Please note, investing involves risk and investments may lose value. Past performance does not guarantee future results.

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