Apple’s stock went on an almost immediate nose dive this morning immediately following the Keynote speech by Apple, Inc. CEO Tim Cook at the Apple headquarters in Cupertino, California. The keynote had been expected to introduce the iPhone 5 and when it became apparent that this was not what was being introduced, Apple’s share price fell as far at 354.24.
Apple also did nothing to help this free fall when it seemed to many users in the social media world that Apple’s servers had crashed. Apparently, it just took a bit longer to add the new materials for the iPhone 4S. However, with a totally different style of control in posting the new items came many questions of what was actually happening, with many users believing Apple had blocked them or that Apple had been hacked.
Once the servers returned and the day dragged on, people began to appreciate what the new iPhone 4S actually offered. The stock price rebounded back as high as 381.80 before closing the regular trading day at 372.50. After hours trading pushed the price up just slightly to 372.73.
While much has been expected of Apple with their high rolling stock valuation and the ideas that many folks have that they can do no wrong in their introductions of products, the reality hit a bit closer to the heart today making people re-evaluate the actual valuation of the stock and the gut check they got today will tell how the stock acts over the coming months until the next product introduction in January or February 2012.
