Apple's shares fall following event

Apple's shares fall following event
Stock traders initially liked what they heard when Apple introduced the new Apple iPhone 6, and the Apple iPhone 6 Plus. The stock, which had closed at 98.36 on Monday, soared as high as 103.08 after the two handsets were introduced on Tuesday. That was just shy of the all-time high of 103.74. But as the second hour of the event started, the shares went into reverse, and by the closing bell the stock was trading at 97.99.

"Buy on the rumor, sell on the news," is an old saying on Wall Street that dates back to the 1920s. While everyone was waiting to see what Apple would announce over the last few weeks, the tech giant saw its shares rise from a low near 70 in February, to the recent high near 104. But once the news broke today, the sellers came out to take profits.

Just in case you were wondering, Apple's share price on June 29th 2007, the launch date of the original Apple iPhone, was 17.43 (taking this year's 7 for 1 stock split into account). And some big name investors expect the stock to rise even more. Carl Icahn, one of Apple's largest stock holders, told Bloomberg reporter Trish Regan today that he is buying more Apple stock. Icahn had been trying to get Apple to increase the size of its stock repurchases, but for now he sees Apple as a great bargain.


source: Yahoo, @trish_regan

Related phones

iPhone 6
  • Display 4.7" 750 x 1334 pixels
  • Camera 8 MP / 1.2 MP front
  • Processor Apple A8, Dual-core, 1400 MHz
  • Storage 128 GB
  • Battery 1810 mAh(14h 3G talk time)
iPhone 6 Plus
  • Display 5.5" 1080 x 1920 pixels
  • Camera 8 MP / 1.2 MP front
  • Processor Apple A8, Dual-core, 1400 MHz
  • Storage 128 GB
  • Battery 2915 mAh(24h 3G talk time)

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33 Comments

1. techperson211

Posts: 1280; Member since: Feb 27, 2014

I thought it should go up high cause of the launch? Wall Street is right again(sarcasm)

33. someones4

Posts: 627; Member since: Sep 16, 2012

I know right? The iPhone 6 Plus is almost good enough to make me think of getting an iPhone. That's really saying something there

2. AnTuTu

Posts: 1602; Member since: Oct 14, 2012

Not surprised...

21. Droid_X_Doug

Posts: 5993; Member since: Dec 22, 2010

Well, the newest iToys weren't exactly something to set your hair on fire. Wall Street collectively has figured that Apple won't be setting sales records sufficient to justify the present share price. The shares have been re-priced to reflect lower earnings by AAPL. Even the watch is underwhelming. No wonder the shares dropped.

3. shaineql

Posts: 522; Member since: Apr 28, 2014

Smart people in wall street who care about their money know apple alredy failed , this is why its happening.

10. QWIKSTRIKE

Posts: 1459; Member since: Mar 09, 2010

In the stock market it's called "buy the rumor sell the news" as Alan called it. iPhone 6 is Nothing over the top, but if sales fall this will flush lower. The note Edge, and the not 4 seems to have the edge in this department. Now it seems to be up to how much the Apple fans love this over the 5S. Apple now has become the follower instead of the leader....too bad because the introduction of the iPhone was innovative and ground shaking to say the least.

15. AnTuTu

Posts: 1602; Member since: Oct 14, 2012

Spot on mate. Apple was the company I used to love and stopped loving it when they released 4S.

26. cheetah2k

Posts: 2223; Member since: Jan 16, 2011

I'd be selling now and taking my money and running. I really can't see this phone selling like the iPhone 4

4. Python212

Posts: 363; Member since: Aug 13, 2014

It also happened when the note 4 & edge were announced LOL

5. TechNeck

Posts: 649; Member since: Aug 29, 2014

I feel sorry for Apple. :/

7. darkkjedii

Posts: 30969; Member since: Feb 05, 2011

Yeah me too, most valuable company, and almost 600 billion in cash and Capitol. Yep I feel sorry for em too.

11. AnTuTu

Posts: 1602; Member since: Oct 14, 2012

Hey what are you doing here? Why are you not in your line to get the new iCrap? hahahaha

16. Python212

Posts: 363; Member since: Aug 13, 2014

I bet this guy doesn't even own a note 3.... he just couldn't $hit on it since it was the true beast of 2013 so he just acted like he owned one to make himself feel better lol everone on PA knows that he's a ijoke not a techie

13. GreekGeek

Posts: 1276; Member since: Mar 22, 2014

And why do you care about their financial assets? Or your're just being a rabid fanboy talking like just...a rabid fanboy?

22. Droid_X_Doug

Posts: 5993; Member since: Dec 22, 2010

Because there isn't much to crow about on the specs of the new iToys. Remember when the iToys back in the day were really leading the pack (4 for example)? The fans rightly crowded about the features. Now, with underwhelming features, the fans are left to crow about AAPLs balance sheet. As if the balance sheet does anything for them if they aren't shareholders. If they are shareholders, they just lost ~3% of the value of their investment. What a wonderful day for them.

27. T.Law

Posts: 423; Member since: May 10, 2014

YAAAWNNNNNN! We all know you're disappointed. No need to hide it. LMAO!

17. synot

Posts: 277; Member since: Sep 14, 2012

Investors say Apple phones are not optimized for big screens and will fail amongst the competition later,look for battery, screen, and update problems not to mention explosions and fire .

25. TechNeck

Posts: 649; Member since: Aug 29, 2014

I meant that their stocks might be like that for a while.

6. gigaraga

Posts: 1454; Member since: Mar 29, 2013

Hope it drops even more.

12. Armchair_Commentator

Posts: 222; Member since: May 08, 2014

me too.. so I can buy some and ride it out

8. quakan

Posts: 1418; Member since: Mar 02, 2011

It seems as though more Android fans paid attention to Apple's keynote more than any Android vendors product announcement.

14. maherk

Posts: 6773; Member since: Feb 10, 2012

Because for us, Apple's keynotes in the oast 4 years have been nothing but a standup comedy show. We find more jokes in their keynotes than we will find in the already hilarious Russell Peters.

9. InspectorGadget80 unregistered

Since the announcement of the over price tag their shares HAVE FALLEN

18. synot

Posts: 277; Member since: Sep 14, 2012

Apple is not the same anymore, innovation done. time to change Tim Cook.

19. amiaq

Posts: 509; Member since: Jun 30, 2012

I used to love apple products. However their foul mouth and legal action bullying the competitors made me who I am today, an apple hater.

32. blazee

Posts: 414; Member since: Jan 02, 2012

Same here. Although I don't dislike apple as much as I did 2 years ago

20. Slammer

Posts: 1515; Member since: Jun 03, 2010

Those lining up for the new iphone due to pent up demand, don't care about stocks. The investors do. This phone will sell in respectable numbers and Apple will make even more on profits and that is what investors are banking on. That is how Apple operates. Buy cheapest components and implement them into a device it can charge top dollar for. Investors get rich, the company gets richer, and customers get second helpings in a device that is using last year or even older technology. John B.

23. corporateJP

Posts: 2458; Member since: Nov 28, 2009

Sad...but 100% true...

29. grbrao

Posts: 294; Member since: Nov 23, 2012

I wish ifans teach a lesson to Apple co by not encouraging the sales of ip6... that might teach some lesson to Apple.... after Jobs, this company is dooming year after year........... i am scared that it wont become another blackberry in history of smartphones?

24. BobbyDigital

Posts: 2124; Member since: May 29, 2014

Of course the stock went down. They've been introducing the same device since 2008. People are finally catching on and having the sh33p fur pulled from their eyes.

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