Home / SmartTech / Apple’s Stocks Fall and Verizon Bounces During iPhone Event – TechCrunch

Apple’s Stocks Fall and Verizon Bounces During iPhone Event – TechCrunch



Apple announced a range of new hardware today. In case you haven’t caught up yet, there’s a $ 99 HomePod Mini, new iPhones, a new way to scream at your electronics, the return of MagSafe, some cost cuts masquerading as environmental protection, and of course new flagship phones.

And in a move that caused telecom investors to sit upright and watch out, Apple trotted Verizon CEO Hans Vestberg for part of the presentation for the reason ̵

1; which is why we’re adding our parent company’s parent company to our usual post-Apple stock price reaction.

Market reaction

Apple stocks were shuffled ahead of the event and managed to work their way back into the apartment during morning trading before the event. Before Apple launched its iPhone shebang, the phone giant’s equity plummeted and then rebounded when the event began.

The partial erasure of losses was short lived, however, and Apple lost ground during the presentation (graphic via YCharts, notes via TechCrunch):

So for Apple shareholders not a day worth writing about.

The Apple event seemed to have a more electric impact on my employer. Check to see if you can identify the point where Verizon appeared as part of the event (diagram via YCharts, notes via TechCrunch):

Now The is the kind of response we hope for from such events. Why? Because this implies that the company did something so remarkable on the stage that its stock price moved; This is another way of saying that investors were surprised by what they learned.

Apple events these days tend to leak ahead of time, so perhaps the usual lack of stock price movement can be anticipated from the company’s equity.

Verizon’s news came as a surprise. The company ”announce[d] its nationwide 5G network, ”in the words of The Verge. Investors liked that, but later sold back some of the company’s stock.


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