There’s been an unusually large drop in the price of AAPL stock so far this week, losing roughly $25 per share in the two days since the WWDC keynote.
While some are inevitably speculating that investors weren’t impressed by Apple’s AI announcements, there are other factors at play …
Yahoo Finance was one of those to attribute the slide to the WWDC announcements.
Other commenters, however, pointed to broader macroeconomic factors affecting a range of stocks, not just AAPL.
There are also suggestions that investors are selling some existing holdings in order to participate in the SpaceX IPO.
The idea that the slide has nothing to do with AAPL specifically seems to be supported by a look at a range of US stock indices over the past five days, which show a sea of red indicating a broader sell-off. We’re also not seeing much in the way of adjustments to analyst target prices for Apple.
Indeed, Morgan Stanley effectively notes that while the hardware limitations on some of the new features are bad news for many iPhone owners, this is likely good news for Apple as it may drive upgrades.
For AAPL investors, then, the executive summary seems to be that what Apple announced was pretty much what the market expected, and the news is neutral to potentially good.
- Official Apple Store on Amazon
- Discounted AirPods Pro 3
- Wireless CarPlay adapter
- AirTag holders and accessories
- Mac Pro-style Mac mini casing
- NordVPN – privacy-first VPN with no logs and independent audits to verify
Photo by Maxim Hopman on Unsplash
Top comment by 5723alex
Liked by 3 people
“is it a reaction to AI announcements?”
Yes. Apple’s stock was down on Friday pre-WWDC as analysts knew what’s coming won’t be overwhelming. The slide continued on Monday after WWDC, continued big on Tuesday and continue today.
View all comments