Three reasons why Apple stock price declined on iPhone 17
Big new products typically lead to stock bounces for companies who announce them, but yesterday’s iPhone announcement saw Apple’s stock slide almost 3.5% in a single session. What gives?
In case you missed it (where you been?), Apple announced updates to its iPhone range yesterday in the form of the iPhone 17 family and the Ozempic-inspired iPhone Air. There were also a slew of new smart watches and some genuinely excellent-looking headphones.
But no matter how many times Apple CEO Tim Cook said the word “magical” from the stage in Cupertino, markets weren’t buying it.
Apple’s stock slid downwards from just north of US$234 a share at the open to a closing price of US$226 by the close of the session.
And the bleeding hasn’t stopped yet,…
