Daring Fireball points out that following most new Apple product introductions, the stock price tends to fall:
Here are the Steve Jobs product announcement stock action:
• 23 October 2001, introduction of original iPod: AAPL fell about 5 percent.
• 7 January 2002, Macworld Expo keynote: AAPL fell 4 percent.
• 7 January 2003, Macworld Expo keynote: AAPL fell slightly.
• 6 January 2004, Macworld Expo keynote, introduction of iPod Mini: AAPL fell slightly.
• 11 January 2005, Macworld Expo keynote: AAPL fell over 6 percent.
• 10 January 2006, Macworld Expo keynote: AAPL rose over 6 percent.
• 9 January 2007, Macworld Expo keynote, introduction of the iPhone, now seen as the biggest and most important product introduction in Apple, and perhaps industry, history: AAPL rose over 8 percent.
• 15 January 2008, Macworld Expo keynote, introduction of MacBook Air: AAPL fell over 5 percent.
• 9 June 2008, WWDC keynote, introduction of iPhone 3G: AAPL fell 2 percent
• 27 January 2010, introduction of original iPad: AAPL was up slightly on the day, but then dropped and kept dropping for days.
• 7 June 2010, introduction of iPhone 4 (last phone introduced by Jobs): AAPL fell slightly, then dropped 3 percent the next day.
Note that the 10 percent drop in Apple’s share price following the 5S/5C introduction would have been extreme in the Steve Jobs era. Today, its hard not a heads up comparison — the stock price has been more volatile, the shareholders even more short term oriented. (Not sure if the naysayers are any louder though).
As I wrote almost a decade ago in 2005, Wall Street still does not understand Apple: Analysts Still Underestimate Apple; Sell-siders simply don’t ‘get’ Steve Jobs’ company, based on Wall Street Remains Clueless as Ever as to Apple’s Products.
Funny how some things never change . . .
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.
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