Today’s Apple event, packed with the company’s products to help decide whether the company meets, exceeds or diminishes Wall Street’s expectations for future growth and performance, had little or no impact on its share price.
So far, this is the topic: Apple is announcing a host of new products, services, software or peripherals, and its share price means nothing. It’s almost funny; Apple shares can certainly move after earnings are announced, but a summary of the new product? Not so much.
Or at least not as long as TechCrunch pays attention (here’s more evidence). It’s almost as if Apple’s customers – and the press – are furious about what the company is building. And they are very loud about it. While investors are basically at lunch all the time.
For example, today Apple shares closed the day off by 1.28% and have since fallen by an additional 0.36%. Apple shares closed the day worth $ 133.11 per share and were worth $ 133.40 at the time its event began. So, the event almost prevented the company from losing more on the field.
The broader Nasdaq index lost 0.92%, according to Yahoo Finance.
In other words, the news that Apple is renewing its credit card, renewing its podcast app and will support paid subscriptions, that purple iPhones are coming, that AirTags are real, that there is finally the new Apple TV, that new iMacs are coming that look hot, that there are new iPads (including the new iPad Pro) and more, has basically shrugged off investors.
Not to be a cliché, I won’t stick you’re not funny gif here, but it’s justified. In short, Apple’s stock did it today because investors were too focused on numbers to watch products from revenue that would trigger numbers that would later be broken down and come to a firm conclusion.
Here is the chart via YCharts: