Unlike previous years, this year Apple only introduced the latest iPhone series in October due to the impact of the pandemic. Even though it has been long-awaited the introduction of the iPhone 12 line made Apple’s shares plummet. Apple on Tuesday, October 13th, 2020 last week officially released the iPhone 12 line, which many parties have been waiting for. Unfortunately, after its release, Apple’s stock fell by 4%. MarketWatch lists shares of Apple Inc. (AAPL), -0.39%, down 2.65% to the US $ 121.10 on Tuesday. The fall of Apple shares halted the gains that had been achieved for two consecutive days. AAPL closed at the US $ 16.88, far below the record high on September 2 which reached US $ 137.98. Meanwhile, if you are still confident in the Apple stock index and other NASDAQ100 indexes, you can visit http://www.cnie.org/forex/nas100-brokers.html to hire Brokers who help traders buy and sell the NAS100 index.
The performance of this Apple stock looks even worse when compared to a number of its competitors in the same sector on the same day.
For example, Microsoft Corp. (MSFT), -0.54%, up 0.66% to US $ 222.86, Alphabet Inc. Cl A (GOOGL), -0.51%, up 0.16% to US $ 1,567.07, as well as International Business Machines Corp. (IBM), -0.83%, down 1.66% to US $ 125.10.
Apple’s stock began to fall shortly before the Apple Event began. To make matters worse, the iPhone 12 was officially introduced. Apple is estimated to have lost $ 81 billion in market value at that time.
The drop in Apple shares after the release of the iPhone 12 is quite surprising considering that the latest iPhone line is one of the most awaited smartphone products in 2020.
Varun Kannan, an analyst at Canalys stated that There are many reasons for that. The price of the device is one of them. The fact that Apple doesn’t provide accessories like a charger adapter and earphones in the box is another thing. Regarding features, only 5G network support is the only meaningful improvement.
There may also be several reasons that led to the drop in Apple shares. One of them is the excessive expectation on the iPhone 12. The decline in Apple’s stock can be attributed to the exaggerated expectations that appeared in the public regarding the Apple Event.