Apple Stock Down On News of iCloud, Lack of iPhone 5 Announcement (AAPL)

Right after Steve Jobs introduced iCloud, iOS 5 and Mac OS X Lion at WWDC 2011, Apple’s stock prices reacted to the new services and the lack of an impressive , “One more thing,” namely no iPhone 5, by dropping 4.57% or $5.40 by 4:30 pm.

Apple Stock WWDC 2011

Also dropping alongside new cloud competition was Google (GOOG) which sank .039% or $2.02, but Microsoft (MSFT) came out ahead for the day with a slight jump of .44% up $0.11.

AAPL GOOG MSFT Stock Prices WWDC 2011

Apple stock prices typically take a hit right after major events, but given the lack of an iPhone 5 announcement, which has been the trend for the last 3 years it is surprising Apple (AAPL) didn’t take a bigger hit from investors. This is also happening while Apple tries to deal with finding a Steve Jobs replacement, which could also be making investors nervous.

Based on past performance you should investigate more before selling, and now may actually be a decent time to buy Apple stock.

The author of this post is not a financial advisor and is not your financial advisor. Perform additional research before taking action on the news provided in this article.

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Comments

    • Anonymous says

      In this case, i am not sure the stock market over reacted.
      The announcement from Steve Jobs was ordinary fare – pretty boring compared to what Apple usually announces. For e.g iCloud is really nothing innovative. Amazon Music cloud already exists today and provides cloud storage to share content. Microsoft has had live mesh/sync for a while now and that works across your devices and also lets you remotely connect to your PCs. Google has their cloud storage too. So neither is the iCloud scenario innovative or new - customers have been seeing this working for a while.

      It seems like apple is a darned good company when it comes to building sweet looking (very sweet actually) products. But when it comes to software, they may lack some of the innovation that other companies have demonstrated. E.g i hate iTunes, but cant wait to see what iPhone 5 is going to look like!!

  1. DNel says

    From the 2nd chart, Apple lost 1.5+% not 4.57% as stated in the article. I’m  sure it was just a typo.

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