Apple Drops Even As Macworld Goes On
Unlike 2007, 2008 is looking to be a bad year for the Apple (AAPL). After breaking the $200 mark last year Apple has been in nothing short of a tailspin, losing over 15% of it’s high value mark in the first two weeks of 2008.
Even Macworld appears to be unable to help this struggling stock. Could the iPhone have been the “one hit wonder” that brought Apple into the limelight only to see it fall as Steve Jobs parades a list of so-so electronic gadgets before the eyes of the press?
- What’s new at Apple
- Apple TV 2.0 - Because no one wanted to buy the first model.
- Movie rentals via iTunes - $3.99 is not a bad price for a DVD-quality movie rental but will they be that good? Netflix (NFLX) announced that they were changing their download service to unlimited prior to Macworld.
- iPhone firmware update - Not exactly unexpected news here. What was expected was the SDK for the iPhone.
- Time Capsule - Anybody want an external storage device that does not do even half of the things a NAS setup does?
- iPod touch gets more apps - I honestly did not know that these four apps (mail, maps, weather, stocks) were not already included. If you already have an iPod Touch you have to shell out $20 to upgrade.
- MacBook Air - Super slim and super fragile looking. Expensive price tag to match.
So, what has Macworld done for Apple stock? Would you believe brought it down? not only has it brought Apple stock down but so have NetFlix, Blockbuster and Amazon seen their value decline on the news of renting movies via iTunes.
I see this as a bit of a disconnnect because as these movie rental stocks fall Apple falls right along with them! If this service were truly a threat to them wouldn’t Apple stock be rising as these ones fall?
Sorry Steve, you are last years news now. I hope most of you sold your apple stock at $200 because it’s not going there again for quite some time!