Apple has established itself as one of the giants within the technology industry but as with the unveiling of any new product, consumer reactions may not have been as expected. This comes after the California-based company unveiled its 25th mobile device to be released, the iPhone 12. The range includes three models; the standard iPhone 12, the iPhone 12 Pro and the iPhone 12 Pro Max. As expected, the base model with 64 GB of storage will start at $829.
While Apple has certainly maintained its sales even with a somewhat hefty price tag, the monetary aspect would not be the cause of controversy for the tech company. For the first time in the history of the company, a charger and earphones will not be included with your mobile phone. This seemed to be reason enough to end the upward trend of the stock trading on the NASDAQ. During this week, the stock price started at a value of $121.25, as of close of market on Thursday, the stock price was set at $115.75. A 4.54% decline amidst one of the stock’s best years to date.
Despite the enormous financial impact that the COVID-19 pandemic has wreaked upon the world, Apple has managed to maintain steady growth. The stock price reached a high of $137.98 around the 1st of September, this compared to the opening value of the year at $75.09. It has managed to outperform the S&P 500 during this year to date; while Apple achieved 21% growth, the S&P 500 currently sits at 8% over the same period. The recent decline in stock price would be the first negative spell the company has endured this year. However, the release of their latest line of mobile phones may prove timely before the festive season. The controversial decision of excluding the charger and earphones could certainly be overshadowed by the additional features present on the iPhone 12.
The iPhone 12 will be the first generation of Apple mobile devices to make use of the newly rolled out 5G network. A decision that is absolutely crucial for any tech company currently seeking to break into the market. The addition of this feature was put under some speculation by Joanna Stern, a personal technology columnist at The Wall Street Journal, “What is the benefit for normal consumers? Where are they going to feel the faster speeds? And regardless of if everything works perfectly, right, we’ve got good hardware, good network and you can get 5G all the time, what do you use the faster speeds for on your phone? Where is the answer to that question is the big thing.”
The fourth quarter of the financial year will prove to be an interesting one for Apple Inc. Only time can shed light on how well the new iPhone range is received and the company will certainly be hoping to close off one of its greatest stock periods to date.
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