Apple’s stock dips and Verizon’s recovers during iPhone event – ProWellTech
Apple announced a range of new hardware today. In case you haven’t caught up yet, there’s a $ 99 HomePod Mini, new iPhones, a new way to yell at your electronics, the return of MagSafe, some cost cuts masquerading as environmental protection, and of course new flagship phones.
In a move that resulted in telecom investors sitting upright and paying attention, Apple trotted out Verizon CEO Hans Vestberg for part of the presentation. So we’re adding our parent company’s parent company to our usual stock price reaction after the Apple event.
Market reaction
Apple stocks were mixed ahead of the event and managed to work their way back into the apartment during morning trading prior to the event. Before Apple launched its iPhone shebang, the phone giant’s equity plummeted and then rebounded when the event began.
However, the partial erasure of losses was short-lived, and Apple lost ground during the presentation (graphic) via YCharts, Notes about ProWellTech):
So for Apple shareholders not a day worth writing about.
The Apple event seemed to have a more electric impact on my employer. Check if you can see the point where Verizon appeared as part of the event (diagram) via YCharts, Notes about ProWellTech):
Now The is the kind of response we hope for from such events. Why? Because this implies that the company did something so remarkable on the stage that its stock price moved; This is another way of saying that investors were surprised by what they learned.
Apple events these days tend to leak ahead of time, so perhaps the usual lack of price movement can be expected from the company’s equity.
Verizon’s news came as a surprise. The company ”announce[d] its nationwide 5G network “in the words of The Verge. Investors liked that, but later sold back some of the company’s stock.
