Why Apple Stock Fell in September
Apple stock has been falling since its latest event
Apple (AAPL) stock has been heading south since its latest release event, in which the tech giant revealed new versions of its iPhone, including the iPhone X and the Apple Watch Series 3. The stock has fallen ~8.3% so far in September, while the S&P 500 Index (SPY) has risen 0.9% during the same period. The stock has fallen 6.9 % since the day before the latest event.
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As we mentioned in the first part of the series, Alphabet’s (GOOG) Google has gone deeper into hardware and could challenge the iPhone and other handset makers over the long term.
Apple stock could keep falling
Apple has made many changes in its iPhone X. The iPhone won’t come with its iconic home button, for example, and it will have face recognition among other new features. But while it appears to be a decent product, it didn’t turn out to be the game changer investors were hoping for.
In 2016, iPhone shipments fell for the first time ever. The company is hoping that its new iPhones will deliver, and if they don’t, we can expect Apple stock to fall further. The iPhone X is scheduled to start shipping on November 3, 2017.