Apple sheds value during iPhone event

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The TechCrunch crew has been hard at work compiling the most recent from Apple’s iPhone and iPad events. They are very impressed with the latest hardware updates from the megacorp. What are the markets saying about this same product range?

For those of us who are more concerned about effective S&P dividend yields and screen nit levels than with screen nit levels events like Apple’s confab can be more fascinating for what they could mean for the value or the hosting company than the number of GPUs that a specific smartphone model has. Apple’s stock might have shown some interest during the event, at least once.

Observe the following chart:

Image Credits: TechCrunch/Y Charts

This is a one-day chart, mind, so we’re looking at intraday changes. Zoomed in. Apple took a little dive during the event, which began at 1 p.m. as shown in the chart.

Normally nothing of import happens to Apple’s shares during its presentations. This is a strange feeling, given that Apple events reveal the product mix that will bring in hundreds of billions. It would be reasonable to expect them to have more impact than the usual zero.

But today we saw real share price movements as the event ended at 2 p.m. ET Perhaps investors were hoping to get more expensive devices? Perhaps investors were hoping for more expensive devices? It is up to you to rate the holiday Apple product line-up, but investors seem to have given a slight edge to the negative.

Worth around $2.5 trillion, each 1% that Apple’s stock moves is worth $10 billion. Apple’s loss today of 1.5% — or more; trading continues as you write this — is more than Mailchimp. It’s a lot.

You can find the rest of our coverage at the Apple event here. Enjoy!

Read more about Apple's Fall 2021 Event on TechCrunch

Alex Wilhelm Read More

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