It seems that investors were expecting something splashier than iOS 6 and the next-generation MacBook Pro. Although most major stock indices were down sharply today as markets reacted negatively to the proposed bailout of the Spanish banking system, it’s notable that Apple’s stock began to fall almost immediately after the company finished up its WWDC keynote address in San Francisco Monday. Apple’s shares, which closed at just above $580 on Friday, started the day trading at around $587 and peaked in the $588 range around noon before steadily dropping throughout the early afternoon. The stock then dropped quickly after Apple wrapped up its keynote, going from $579.67 at 3:00 p.m. to $573.84 at 3:30 p.m. before closing the day at $571.17, down 1.58% from the previous day’s close. CNBC analyst Bob Pisani, for one, said that many traders thought that Apple’s WWDC presentation was fairly underwhelming and “a relative non-event.”
Wall Street unimpressed with Apple’s product announcements
Updated Dec 19th, 2018 8:27PM EST
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Brad Reed has written about technology for over eight years at BGR.com and Network World. Prior to that, he wrote freelance stories for political publications such as AlterNet and the American Prospect. He has a Master's Degree in Business and Economics Journalism from Boston University.
