Today was judgment day for Tim Cook, as he took the helm to announce a few new products, as well as the new iPhone. Steve Jobs will be sitting there a little worried right now, as Apple stock after the keynote has taken a bit of a dive. One reason behind this is due to the fact that there was no iPhone 5, instead we were fobbed off with a 4S model — Android fanboys can start gloating now.
The device is very different on the inside, and for what it’s worth, the outside is still one of the best looking smartphones on the market. The stock took a huge dive the moment that the iPhone 4S was announced, but we believe that this was a knee-jerk reaction. We have seen this happen in the past, and things have leveled out since.
The initial drop was 4 percent, which considering how much Apple is worth, is a huge amount. As I write stock levels are now starting to recover, they are now just over 2.5 percent. Maybe investors have now had time to digest the information and have found that the news is not as bad as they first thought. Let’s face it, the specs for the 4S are awesome, and will put up a fight against any smartphone on the market.
We have to wonder at this rate if Apple stock will even see gains, as it has jumped almost a percent while writing this piece? We still await the official video of the iPhone 4S keynote, maybe then investors will see what a great device Apple has come up with — just hope the public feel the same way?
Update: Apple stock finished on 372.50 down 2.10 points or -0.56 percent. After hours trading finished on 372.49 -0.01 (-0.00%)