“Investors gave Apple a slap on the wrist Tuesday, a day after the company detailed its upcoming Apple Watch release,” Patrick Seitz reports for Investor’s Business Daily.
“Apple stock was down more than 2% in early afternoon trading on the stock market today,” Seitz reports. “Apple revealed pricing and applications for the Apple Watch, which will launch on April 24 in nine countries, with models ranging from $349 to $17,000.”
“Pacific Crest Securities analyst Andy Hargreaves said the Apple Watch is the world’s best smartwatch, but questioned if the world actually wants smartwatches,” Seitz reports. “‘The Watch’s primary functional value seems to be the convenience of being able to do certain tasks without taking your phone out of your pocket,’ Hargreaves said. ‘This is nice, but does not appear game-changing since people are likely to continue carrying iPhones for the foreseeable future.'”
Read more in the full article here.
MacDailyNews Take: Yes, Apple Watch allows wearers to do certain tasks without taking their iPhone out of their pocket – thereby saving significant amounts of time during a normal day. Watch and see.
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Why does the Apple Watch exist? – March 10, 2015
And the stock market speaks. That’s an early call on what a failure this will turn out to be
You clearly have never monitored the stock market after every single Apple announcement. The market never responds nicely to Apple announcements, but sure enough, when sales roll in, they all shut up.
Yes difficult to be quite as stupid as this dumbo, even more amusing though that he/she is so out of touch with such recent history as to show the patent stupidity quite so openly.
Yes, because the stock market has been such a reliable metric for the success of Apple products in the past….
Clueless!
Almost without fail, preliminary new product hype sends stocks up and announcements cause short term buyers to take profits.
What is so unusual about this?
Google down 2.43 percent.
And it will be down further when Apple doesn’t renew their search contract. Yippeeee.
Balderdash. Profit taking merely. The smart money will not stay out for long. When was the last time Apple invested so much for a flop? I will be ordering one as soon as I can, I suspect there are more than a few more million who will too. The world market for this is HUGE. Even if they only sold a couple of million in each country, this will be a smashing success. And the ecosystem grows….
And today . . .
AAPL = -2.07% [NASDAQ = -1.67% / DJIA = -1.85%]
NOK = -2.93%
GOOG = -2.43%
AMZN = -2.39%
NFLX = -2.37%
PCLN = -2.13%
MSFT = -1.91%
So, oh-so-wise splatterific, what failures do you see on the horizon for the other companies and indices sampled above today? Troll. Ordure for brains.
Update as of tuesday 3/10/15 close of trading:
AAPL down 2.06%
DJIA down 1.77%
While using a simple reason to explain many complex moves of the market index is seldom accurate, it is fair to say that the announcements on March 9 did not attract a significant amount of new investment to AAPL. Perhaps all the rabid Apple fans pulled out $17k of stock so they could order their new Apple jewelry. If that’s not the case, then all those proposing that the Watch is going to be a massive hit might be overstating reality. The watch is a high priced accessory, and not a necessity. The new MacBook in a relatively high priced fashion-first netbook, again not a necessity. Apple is degrading from a world-class computing company into a fashion house.
Mike, guess Apple is doomed cause they do not do it like Dell. Right?
AAPL simply is just one of a large number that dropped overall. No need for any singlular panic here..
troll
The market is so stupid today this sounds good for Apple in long run.
And by that logic, every other tech company is doomed too.
Yeah because the stock markets been right so often when it comes to Apple eh Bunkie? Your name bespeaks perfectly your brain’s thought processes and lack of historical perspective.
JADAH – Just Another Doofus Apple Hater
Saving you a BIG piece of Humble Pie.
Actually, the Apple watch uptick was already baked into the price back in November when it was announced. No news here..
I bought some more shares today at $124.21 and put in a sell order at $129.87. Love it when Apple shares dip for a minute.
I’m thinking about buying 50 shares, and selling them when I have enough PPOFIT to buy the steel Apple Watch. Probably happen soon after pre-orders start, when Apple announces how many are already “sold” before sales even start.
The only problem… Once I own AAPL shares, I have a hard time selling. 🙂
Make sure to set aside the tax share of the gains. 😀
The whole market has been wacked since Friday. Everyone is getting spanked, except for my money funds where people are hiding their money.
Dvorakian line noise.
Obviously there isn’t enough diversity amongst analysts. >.>
Wrong. The Apple Watch hype combined with the stellar performance last quarter plus the unknown factor with the Apple Car rumor resulted in the stock peaking to $133. Then the profit takers jumped in which has driven the stock back down.
Funny, it seems to have affected the broader market too. People don’t get excited about the watch, sell all their stocks.
Yes, at the moment the Dow is down 1.85% as opposed to Apple’s 1.67%, so they’ve decided to take it out on their non-Apple stocks even more than they’re punishing Apple.
Apple traders or investors are a strange group. If this was any other company that just introduced two new products and one huge initiative which benefits all of mankind their stock would be soaring a minimum of 10 percent.
In addition, for months and months the investment community wished for Apple to innovate and develop further revenue streams, which is exactly what they have accomplished, but instead of a justly reward the stock gets punished. This reminds me of the reveal in September of 2013 when Apple answered the critics by releasing the less expensive iPhone 5c. The stock got pummeled because the critics complained the 5c wasn’t cheap enough. Then a few months later it was known the 5c was the second best selling smartphone (after the 5s). Now these same losers are complaining the Apple Watch Edition is too expensive, so the stock sells off.
Most of those complaining AppleWatch Edition is too expensive likely weren’t going to buy it at half the price. What’s to complain about? Either they want an AppleWatch or they don’t. Apple actually does have consumers over a barrel as none of the other smartwatches work with an iPhone. I’m only concerned as whether AppleWatch will be useful to me or not. If I needed a Fenix 3 and have to pay $600 for it, I’ll do it. I’m not going to Garmin and start whining how they’re charging too much for their best fitness device.
All the bitching and griping from the analysts about AppleWatch doesn’t really mean much. We simply have to wait and see the rate of consumer sales when it’s available. Consumers have a different mindset about Apple products than these wankers who think they know everything about tech and consumer buying habits.
I think today’s stock sell-off was a general market sell-off and not Apple-specific. It’s hardly a blip. I’m hoping Apple will have better than expected iPhone sales this quarter and that will lift the stock back to the $130 mark. I think Apple is doing pretty well. It may not be Icahn’s ideal price but it’s satisfactory from my point of view. There’s still plenty of time for Apple to make more money this year.
AAPL’s P/E is too optimistic. As is most of the S&P500.
AAPL below $80 sometime this year.
You mean above $180.
So Patrick Seitz apparently failed to notice that all of the indexes were down?
P Seitz – tunnel vision. 😉
Bunch of fanboys.
It’ll be interesting to see what happens when AAPL becomes part of the DJIA, since all Dow-linked index funds will have to add shares.
The market was predicted to steeply drop on Monday because of Sian stocks, strong dollar, interest rates increases, blah, blah, blah. It didn’t and no one was held accountable for being wrong. A day later it does drop a little bit, and all the same reasons are given again. Lazy, lazy, lazy ….
It is merely Wall Street manipulation as usual.
Wait… An overpriced wristwatch, whose battery lasts only 3 years, that you have to charge daily, that’s not waterproof, that’s not a stand alone device, whose key benefit seems to be that you won’t have to take your phone out of your pocket (that’s always been such a drag…), with a chubby chassis, that will be obsolete by a substantially better design in a year’s time by a company mired in recent fiascoes (Maps, iPhone 5C, iOS 8.0.1, late/lame roll out of iMacs and MacPros to name a few), who is still riding on the products that were created on its former CEO’s watch (no pun intended), drove down the stock price?! Get out of town…
If it fails, the found a scapegoat!!!
http://www.dailymail.co.uk/sciencetech/article-2988018/Why-Christy-Turlington-Apple-Watch-launch-Former-model-slammed-irrelevant-embarrassing.html
Too funny!!!
investors are using circumstantial evidence to conclude that the shares didn’t react as much to the apple watch. there are many factors that effect stock price, not just apple, but also external factors. this article is just hype
2 things!
1-Market was down as a whole today on fear of rate hike… Not apple watch!
2- apple shares always get hit after presentations.. And recover as thick head and unimaginative wall-street gurus and public come to learn about the product and actually get to use it for a while !
What a bunch of sh*t! Just about every stock I track or am involved with was down today. The problem is the US currency value. It’s too high and to add more pressure, the Fed is looking to increase interest rates (the US already has some of the highest interest rates around — some countries have negative interest rates). This creates a flight from equities that is push all stock prices lower. Actually, Apple’s stock price fared better than many today. Whomever wrote this piece of trash just never actaully did any research. Actually, they didn’t seem to even notice the most obvious slide of the major indieces and individual stock prices throughout the day. Trash. Not worth the pixels it is written with!!
Forget the numbers here…just wait until you see the number of sales in Japan and China! Asians are verbal grapevine networkers, and word will spread and demand will be huge.