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  • Shares of Apple, Sprint Tank Following iPhone 4S Announcement


    What does it take to make tech stock traders happy? Apparently nothing that Apple said today.

    Following the introduction of the iPhone 4S, shares of Apple slid precipitously, touching levels not seen since Steve Jobs resigned as company chief August 24th. At one point, shares of Apple were down 5% today, well below $360 per share. Although the stock price has since recovered some lost ground, it's clearly not a banner day for AAPL.

    According to CNBC, investors and Apple fans were looking "to be blown away by some amazing new surprise." When they weren't, shares swiftly tanked. "It's been 16 months and all you've got is an A5 processor in the existing iPhone 4," Wall Street analyst Colin Gillis of BGC Partners tells CNBC.

    Of course, Apple wasn't alone in its stock price free-fall. Sprint went along for the ride before similarly recovering the worst of its losses.

    Sprint initially saw a 10% dive in its stock on Monday, after a Wall Street Journal report indicated that the carrier was poised to lose money on its iPhone deal until at least 2014. "This is a huge gamble for Sprint and people are justifiably worried that they won't be able to make any money doing it," Stifel Nicolaus analyst Chris King says. "It's not a company that's in great financial shape right now."

    Source: CNBC
    This article was originally published in forum thread: Shares of Apple, Sprint Tank Following iPhone 4S Announcement started by Michael Essany View original post
    Comments 28 Comments
    1. kraziebone's Avatar
      kraziebone -
      Quote Originally Posted by dfheje View Post
      The guy in the article is retarded. The A5 is new and only in the iPad 2. The A4 is in the iPhone 4.
      Maybe you don't understand the quote - he's saying the new iPhone 4S is just the normal iPhone 4 with an A5 processor. Not that the iPhone 4 had a A5 processor.
    1. quidam_brujah's Avatar
      quidam_brujah -
      Quote Originally Posted by sammo123 View Post
      And they have basically already recovered so not a big deal at all
      You gotta love headlines tho:

      APPLE STOCK TANKS ON CRAPPY ANNOUNCEMENT OF iPHONE 4S!...
      AAPL DOWN 20 POINTS!
      AAPL closes at down 0.56%‎...

      Always read the fine print... and yeah, the market pretty much blows and quite often has nothing to do with reality. The people driving this are pretty much the same a$$h*les that screwed the economy in the first place. They do this all the time. A company says they should make about X in profit or growth, 'industry analysts' say X*1.8, the company comes in at X*1.3 and beats their own expectations but under everyone else's and their stock value drops because of it. Ridiculous.
    1. hogcia's Avatar
      hogcia -
      Say whatever you all want, the phone market is bigger now with many options. A simple change like a bigger phone screen and phone design can and will make a difference. People just don't think this new phone is worth the upgrade this year. This gimmick worked with the 3G & 3GS, but times are different now. Do NOT take my word for it, wait till next week when you hear how bad 4s initial sells were.
    1. qgshadow's Avatar
      qgshadow -
      Ya the iphone 4s is a big *** dissapointment, Take iphone change cpu put new camera, call it best phone in the world rofl.
    1. golf4life80's Avatar
      golf4life80 -
      Not too surprising this happened.
    1. Blufox's Avatar
      Blufox -
      Really? Really people? *sigh* Like a previous poster had said, this is a trend with new devices in AAPL stock history. That being said, we are up to 377 today, and continuing to rise. Please do not jump on the boat with all of the idiots that troll these forums and pounce when they see news articles like this. Know your facts and the companies history. That is what the stock market is all about. It will level back out, and then upon release you will see a couple spikey increases and a steady incline form then out, just like always.
    1. NakedFaerie's Avatar
      NakedFaerie -
      Are people that stupid?Whats the difference between calling this new phone the iPhone 4S or the iPhone 5? It's still a NEW iPHONE no matter what they call it.So if they called it the iPhone 5 everything would be ok but as its called the iPhone 4S its a huge problem? GROW UP PEOPLE!
    1. Mysterion's Avatar
      Mysterion -
      Quote Originally Posted by NakedFaerie View Post
      Are people that stupid?Whats the difference between calling this new phone the iPhone 4S or the iPhone 5? It's still a NEW iPHONE no matter what they call it.So if they called it the iPhone 5 everything would be ok but as its called the iPhone 4S its a huge problem? GROW UP PEOPLE!
      its true. This is like the iPhone 4Super!