You are here: Home - Investing -

Apple shares drop more than 5% as new products miss the mark

Written by:
Shares in Apple have plummeted more than 5% this afternoon after a disappointing reception for the tech giant's two new iPhone models released last night.

The group’s shares were down 5.3% to $468.5 in early trading in the US, amid a wave of downgrades from analysts.

The higher-than-expected price of the new products – the cheapest of the new products costs £469 – has sparked concerns the company could lose its competitive advantage against Google’s cheaper Android operating system.

Apple’s third quarter sales reported in July beat analysts’ expectations, as iPhone sales jumped, but net profit was down 22%, marking a slowdown for the company.

The positive results had boosted the share price at the time, but the expensive new product has caused investors to doubt the firm’s future success once again.

Shares were already down 11% year to date, before today’s falls.

Meanwhile, the S&P 500 index is trading relatively flat at 1,682, while the Dow Jones also remains stagnant at 15,241.

Related Posts


Tag Box

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Could you save money with a social broadband tariff?

Two-thirds of low-income households are unaware they could be saving on broadband, according to Uswitch.

How to help others and donate to food banks this winter

This winter is expected to be the most challenging yet for the food bank network as soaring costs push more pe...

Your rights for refunds if travel is affected by strikes

There have been a wave of strikes this year across many different industries, and more are planned over Christ...

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

DIY investors: 10 common mistakes to avoid

For those without the help and experience of an adviser, here are 10 common DIY investor mistakes to avoid.

Mortgage down-valuations: Tips to avoid pulling out of a house sale

Down-valuations are on the rise. So, what does it mean for home buyers, and what can you do?

Five tips for surviving a bear market mauling

The S&P 500 has slipped into bear market territory and for UK investors, the FTSE 250 is also on the edge. Her...

Money Tips of the Week