Stock of the Day
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Apple (AAPL)
The Highlight of Yesterday's Apple Event was: Steve Jobs
Events held by Apple always seem to drum up a lot of excitement beforehand, as investors and consumers speculate about new product launches and new technologies. In some cases, consumers are pretty good at predicting what is next to come, but at other times, the guesses fall far from actuality. The company held a digital music event yesterday, and the rumors were flying as always. Did Apple manage to live up to the expectations of its consumers, what surprises were in store, and what affect will this all have on the performance of Apple's stock?
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A wide variety of products had been speculated, some based on previous Apple trends, others simply based on consumer desires. There had been talk of a tablet computer, and an iPod touch which incorporated a video camera. Some were hoping for news relating to the newly released and remastered Beatles catalog. Unfortunately for these eager consumers, none of these items were announced at this event. However, the one question that seemed to run throughout was if they would see a return of Steve Jobs himself, and when Jobs appeared on stage for the first time in approximately a year, this made many people forget any of their other disappointments. Jobs received a standing ovation from the crowd, and spoke briefly about his personal life including his liver transplant, before moving on with the event. Since the event, many analysts have mentioned that regardless of the rest of the event, was in itself enough for them to remain optimistic about the future of Apple.
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Some consumers, however, remained more focused on the new announcements. The biggest news was the addition of a video camera to the iPod nano model. Other highlights included a new version of the iTunes media store, new iPhone software, new games for the iPod from Electronic Arts (ERTS: Charts, News, Offers) and others, and some price cuts for the various iPod models. None of this was particularly big news, especially to consumers who had been hoping for a little something more.
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The stock reaction to events like this tends to follow a specific pattern, and this day really was no exception. Apple stock had been trending up leading up to the event, reaching a 52 week high earlier in the day, and yet shares fell approximately 1% following the event. Much of this decline seems to be tied to the somewhat disappointing lack of "big" news at the event, but most analysts are continuing to maintain an optimistic future for Apple. Many analysts pointed to yesterday's decline as a good buying opportunity, predicting that Apple stock will continue to rise as it has since Jobs returned to the job in June, and maybe even more due to his first major public appearance. It looks as though consumers are starting to get over their initial disappointment, and perhaps listening to analysis of the company, as the stock has started to trend up again in today's trading session. So although yesterday may not have brought all the great news consumers were hoping for, Steve Jobs' return was music to everyone's ears.
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More Buzz about Apple:
Apple's Steve Jobs steals the show - As Steve Jobs returned to the spotlight yesterday, a look back at his recent struggles, and how he's overcome them.
Why Apple is Right to Pitch iPod touch as a Games Console to Beat the DSi and PSP Go - This one gamer used to think that iPod games would never succeed, but now believes that the iPod might actually be the next big gaming system.
Steve Jobs: Apple Tablet Is Going To Destroy The Kindle - Although the Apple tablet is still a rumor, this one blogger thinks that Jobs' recent comments indicate the tablet to be an upcoming competitor to Amazon's (AMZN: Charts, News, Offers) Kindle.
Apple iPod nano (5th Generation) - Here's an in-depth review from PCMag of the newly released iPod nano.
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More Stocks in the News:
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GM Agrees to Sell Opel, Vauxhall to Magna - General Motors (GM: Charts, News, Offers) has announced that it is selling its European business to the largest autoparts maker in Canada.
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