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Ouch – Apple Shares Tumble After Press Event [update: Rising Again]

by Adriana Lee | October 4, 2011October 4, 2011 12:59 pm PDT

The graph kind of says it all, doesn’t it?

There must be some sort of stampede to sell Apple shares in the wake of the iPhone media event – which is pretty bracing news for a new CEO taking over a highly prominent role from a corporate and technology rock star like Steve Jobs.

Last month, Apple shares had reached a new high at $413.23. Now it’s sinking faster than the Titanic after what many are calling a pretty lackluster media event.

The worst-case scenario for many i-devotees was that the new iPhone would be an incremental update only, that the iPod Touch‘s main announcement would merely be a new color option (white) and that the much-loved iPod Classic would be ignored or even eliminated — a set of events that pretty much came to pass as such.

I guess incremental is subjective. Speed demons might be satisfied with the handset’s new dual-core A5 processor. People looking for more coverage options must be thrilled the handset is going world mode and landing on Sprint. And productivity hounds might love Siri, the new voice command feature. But others hoping for a new form factor, larger screen, and maybe some inkling of 4G/LTE were sorely disappointed.

What did you think of the event? Did it deliver on the stuff you most wanted to see? Or did you walk away confused, disappointed, ready to defect to a new OS and/or ready to sell off your Apple shares? Weigh in below, or hit up our poll here.

 

UPDATE: The stock does seem to be rising again, as the graph shows. Thanks, @jucuyo


Adriana Lee

Adriana is the resident writer-slash-culture vulture who has written about everything from smartphones, tablets, apps, accessories, and small biz...

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