Apple event fails to save the company’s stock from broader market sell-off

Today’s Apple event, which will help decide exactly whether or not Wall Street meets future growth and performance expectations for the company’s products, has had no effect on its share price. So far this theme: Apple has announced several new products, services, software or peripherals and its share price does nothing. It is almost ridiculous; of course, Apple’s shares may move in the context of earnings disclosure, but will a new product digested? 

At least until TechCrunch pays attention (more evidence here) it is almost like Apple’s customers – and the press – cares quickly about what the company will make. In addition, very vocal about it, Investors stay full time at lunch. Today, for example, Apple shares closed down 1.28% for the day and then fell another 0.36%. Apple stock closed the day at per share and was at $133.11 at the start of the event. Thus, the event prevented very few companies from losing more space.

Apple event fails to save the company’s stock from broader market sell-off

At least until TechCrunch pays attention (more evidence here) it is almost like Apple’s customers – and the press – cares quickly about what the company will make. In addition, very vocal about it, Investors stay full time at lunch. Today, for example, Apple shares closed down 1.28% for the day and then fell another 0.36%. Apple stock closed the day at per share and was at $133.11 at the start of the event. Thus, the event prevented very few companies from losing more space.

The broader Nasdaq index per share of Yahoo Finance fell 0.92%. Put another way, Apple is rebuilding its credit card, rebuilding its Podcast app and will support paid subscriptions, the purple iPhones is coming, the AirTags are real and finally a new Apple TV is coming that looks hot as a hack, that there are new iPads (including the new iPad Pro) and many more that were originally coming from investors.I will not paste here to avoid cliché you are not here for GIF entertainment, but that is for sure. In short, Apple stocks did just that today, as investors focused too much on numbers to keep track of the flow from earnings to products that would later split into numbers and products that could reach a firm conclusion.