Apple stock drops 5% after the iPhone 4S announcement
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Investors obviously expected much more from Apple with the company’s stock falling as much as 5% after the iPhone 4S announcement. To be fair there are some neat services that were also announced, some of which pretty much open new businesses for the Cupertino-based company. However, few words we wanted to hear never came out of Tim Cook’s mouth — you know words like LTE and NFC.
Then again, the market was also down (about 1.5%) during the announcement, so I guess the 5% drop isn’t a complete picture. What’s more, the market reacted similarly when Steve Jobs announced the iPad (Apple’s stock fell 2.5%), only to rebound after the lower-than-expected price of the new tablet was unveiled. »read more
More at: IntoMobile Add additional source
Filed in: Cell PhonesAppleiPhone 4s