Wall Street Didn't Like Apple's Big iPhone 7 Event

Posted by HardOCP News 5:05 PM (CDT)

Thursday September 08, 2016

What a shocker, Apple's stock has fallen after yesterday's iPhone 7 event. This should come as no surprise, it's not like the company launched a revolutionary product yesterday. On the other hand, the $160 AirPods will be a money maker. Not because they are extremely expensive, but because of the sheer amount of replacements the company will sell when people lose one of them.

Apple stock was down about 2.84% at market close on Thursday, the day after the company revealed its new iPhone models. Apple shares closed at $105.52 as compared to $108.36 at close on Wednesday. At one point during the day, the stock dropped to $105.41. Apple stock is down about 15% from its 52-week high at $123.82.