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  • Shares of Apple Slide After Keynote


    On Monday, Apple kicked off its 24th annual Worldwide Developers Conference and rolled out no shortage of software and product refreshes plus a few unexpected surprises tossed into the mix.

    From iOS 7 and the refreshed MacBook Air, to a surprise preview of the next Mac Pro and the unveiling of iTunes Radio, Apple gave the tech blogosphere enough to ramble about for the early part of summer. But how did investors react to the WWDC keynote today?

    Not well, apparently.

    Shares of Apple slipped after the keynote, closing on the NASDAQ at $438.89, which is down $2.92 on the day. Ironically, while Apple’s shares closed in negative territory, Pandora Media Inc. rose 2.5% Monday.

    Perhaps investors aren't worried about iTunes Radio killing Pandora after all.

    But a post-WWDC sell-off on Wall Street is nothing entirely new. In fact, CNBC finds it to be quite the norm.

    Going back five years, AAPL's average return during the five-day WWDC is negative 3.92 percent.
    "The WWDC typically takes place in June," the cable news giant reported late Monday afternoon, "and AAPL's average performance is negative for the month. Although the stock's devastating 11.30 percent decline in June 2008 skew the average to the negative territory, still, month-to-date the stock is down roughly 2.5 percent."

    Source: CNBC
    This article was originally published in forum thread: Shares of Apple Slide After Keynote started by Michael Essany View original post
    Comments 6 Comments
    1. mutigers42's Avatar
      mutigers42 -
      shares of apple slide? They are down a total of 0.66%.

      The title and picture for this article are terrible.
    1. Spyruf's Avatar
      Spyruf -
      Quote Originally Posted by mutigers42 View Post
      shares of apple slide? They are down a total of 0.66%.

      The title and picture for this article are terrible.
      Yeah the pic and title are incredibly misleading but this is the media
    1. Scotty Manley Silberhorn's Avatar
      Scotty Manley Silberhorn -
      Quote Originally Posted by mutigers42 View Post
      shares of apple slide? They are down a total of 0.66%.

      The title and picture for this article are terrible.
      I think the point was clear. With the great products that they pushed out. Investors weren't wowed and the stock fell.
    1. GooseG's Avatar
      GooseG -
      I was pretty wowed by that Mac Pro. That's one sexy beast. And it's tiny. Apple makes some pretty impressive stuff.
    1. NSXrebel's Avatar
      NSXrebel -
      Quote Originally Posted by mutigers42 View Post
      shares of apple slide? They are down a total of 0.66%.

      The title and picture for this article are terrible.
      What did you expect from a MESSany article?

      Quote Originally Posted by GooseG View Post
      I was pretty wowed by that Mac Pro. That's one sexy beast. And it's tiny. Apple makes some pretty impressive stuff.
      +1 Must have one for film school!
    1. *T*'s Avatar
      *T* -
      -$3 counts as a stock slide now? Are u stupid?