Apple Business News

Apple’s shares were on a roller coaster ride during the launch event

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Most of us were expecting Apple’s share to sky rocket during and after the launch event. Well, that did happen, but never remained consistent.

Apple’s stock ended at $97.99, which is a 0.38% from its previous close. But, this wasn’t the case, until Apple launched its Smartwatch. We tracked Apple’s shares for the entire day, and the roller coaster ride which the shares took, tremendously surprised us.

Starting from the very beginning, everybody was expecting the stock prices to go up, as soon as Apple launched the new iPhones , but that didn’t happen. The moment apple launched its next-gen iPhones, it’s shares tanked down to a record low of $96.14. Markets had already indicated that until and unless Apple launches an entirely new product this year, the stock prices would go down drastically, and that is exactly what happened.

As soon as Apple announced it new, and highly sophisticated payment system, Apple pay, shares went zooming up, to day’s high of $103. This was expected, considering the fact that this new payment system is indeed a revolution in payment processing.

Apple watch didn’t excite the folks at Wall street,  and just after it was announced, the share price went below $101. And that didn’t stop there. The shares went further down, way below the $100 mark. This was a surprising event, largely because Apple Watch indeed is a great product, and Tim Cook even got a a standing ovation for the same.

Shares finally ended at $97.99, almost touching the $98 mark, at $0.37 down from the previous close. Approximately 170 million shares were exchanged during the biggest launch event of the year.

Editor-at-large and co-founder at The Tech Portal. He is a tech enthusiast with interests in new-age technology fields like Ai, Machine Learning, AR/VR, Outer Space and related stuff. Drop him a mail anytime, very reachable.

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