Jun 7 2014, 10:52pm CDT | by Bijon Kumar Pramanik
Apple is a company that always leaves you guessing about what is going to happen next, but that didn’t stop people from speculating about the iWatch announcement they said was going to be at the Worldwide Developers Conference. Unfortunately, it was absent and Apple’s stock price reflects that disappointment.
After months of speculation about new iWatches and iPhones, hardware devices were nowhere to be found in the address given Tuesday morning. Instead, the entire focus was on software upgrades to iOS and OS X. While the software updates were certainly nothing to scoff at, it doesn’t change the fact that people were hoping for something different.
Stock owners shared the disappointment that many users had, which could explain the almost $5 drop in share price within just a few minutes during the announcements from Apple. The price dropped specifically during the “Healthkit” talk, which is surprising given that this is what will be powering many of the features of the iWatch when it is finally released.
The stock price closed at $633 Friday, while Tuesday saw a drop to $623. This could be for a variety of reasons, but without the iWatch, the stellar year that analysts predicted for Apple might not be possible. The same could be said in part about the iPhone 6, which is rumored to come with a much larger screen, but no excitement matches that of fitness enthusiasts ready for a wearable device from their favorite company.
Bijon Kumar Pramanik
Bijon Kumar Pramanik is an experienced technology writer working since years in the consumer electronics field.
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