On September 7, Apple had the big iPhone event where they unveiled the new iPhone 7 and the iPhone 7 Plus, the wireless Airpods and the Apple Watch 2.
Apple shares were trading at around $108 per share and change and within two days had dropped down to the $103 per share range, a drop of around 5%.
More recently, Apple held its "Hello Again" product event on October 27 where they introduced the new MacBook Pro and the new TV App for Apple TV.
Shares of Apple had closed at $115.59 per share the day before the "big" event.
A week or so later, the shares are at $108.84, a drop of 7% or so.
Yes, I know the markets have been having a hissy in the last time frame pressured by the election, the madness of the Federal Reserve, massive amount of bureaucratic interference from the likes of the FBI, the DOJ, various state AGs trying to make a name for themselves, etc.
However, when was the last time Apple had an event and shares actually went up?
I can't remember the last time. Can you?
It has become rather tiring to hear Tim Cook talk about the best iPhone ever made, the best camera ever made, the best widget ever seen by mankind, while Schiller and gang sycophantly cheer, and hoot and holler.
The point is that these events just seem to provide more and more fodder for the dark side (shorts) and the boo-birds to crow about how Apple has nothing really going on and is just playing catch up, which, in turn scares investors and sends shares lower after almost every big Apple event.
Maybe, Tim Cook and gang should host these events when they really have something new to talk about.
Just a thought.
(Long aapl, long aapl options)
PS: Yes, futures are jumping this morning as the FBI clears Candidate Clinton which means maybe, just maybe, investors begin to realize what a value Apple really is down here. Of course, that would also depend on whether Trump Dump is now behind us. I am not so sanguine. We shall see.
