Apple Inc. (NASDAQ: AAPL)
Apple, a massive technology behemoth, has a product launch every year. Usually, these launches get all kinds of media coverage, interest among investors, and more. However, this time around, things were a bit different. Of course, the event is getting the coverage, but the excitement is all but lost! Today, we’ll talk about the Apple event, what we’re seeing in the market as a result, and what we can expect to see from AAPL ahead.
AAPL Launch Once Again Lack-Luster
Apple was supposed to have a big day today. However, it wasn’t quite as big as expected. Nonetheless, today, Apple held its annual event where it released the latest and greatest in technology. Here’s what they had to offer…
- iPhone 7 Plus – The new iPhone, known as the iPhone 7 Plus was the product that took the center stage at this week’s event. The new phone, I must admit is a pretty big improvement over the last. We’re seeing quite a bit with regard to improved functionality of the camera and a better overall phone. In fact, this time around, the phone is water resistant and dust resistant. However, to make the phone water resistant, AAPL had to do away with the headphone jack, which is already starting to cause some concerns.
- Apple Watch – The Apple Watch got a bit of a face lift. In the newest release, the company added more functionality for those involved in sports. Specifically, the smart watch is now more friendly for runners, bikers and swimmers. However, many wanted to hear some kind of announcement with regard to battery life. Unfortunately, this was not part of the AAPL updates today.
- Nintendo Games? – A surprise announcement was that Nintendo and Apple are now working together in order to bring Nintendo games to apps. This could be an exciting revenue stream moving forward.
How The Market Reacted To The News
In the past, the new product release events hosted by AAPL were great for the stock. Investors would be excited about what was coming out, and we would see gains. However, since Tim Cook took over, things have been very different. Unfortunately, thanks to leaks, everyone already knows most of what is going to happen, and Apple hasn’t been able to excite investors. We’re seeing this again today as evidenced by the declines we’re seeing on the stock. Currently (2:11), the stock is trading at $107.45 per share after a loss of $0.25 per share or 0.23% thus far today.
What We Can Expect To See Moving Forward
Moving forward, I have a relatively bearish opinion of what we can expect to see from AAPL. At the end of the day, with nothing new and exciting, the movement in the stock is largely going to depend on the company’s iPhone sales. However, with no headphone jack, many are going to be reluctant to upgrade to the new iPhone 7 Plus. While waterproof is great, I don’t think it’s going to be enough to really get sales back up to where they should be. As a result, I’m expecting that sales will flop and we will see declines in the stock ahead.
What Do You Think?
Where do you think AAPL is headed moving forward? Join the discussion in the comments below!