Apple’s poor show continues as stock falls post another iPhone launch

NEW DELHI: iPhone 13 and 13 Pro series are here but that could not lift shares of Cupertino-based Apple, as poor show for the mobilemaker on its launch days continued.

On Tuesday, the scrip shut shop at $148.12 a piece, down 0.96 per cent.

History suggests Apple stock rarely performs on the day of its major launch. Since its first launch, the stock has ended higher on just four launch occasions since 2007!

The last time it introduced iPhone 12, iPhone 12 Mini, iPhone 12 Pro and the iPhone 12 Pro Max was on October 13, 2020. That day, the stock fell 2.65 per cent to $121.10.

The unveiling of iPhone XS, iPhone XS Max and iPhone XR on September 12, 2018 had resulted in a 1.21 per cent fall for the scrip.

Before that, the unveiling of iPhone X, iPhone 8 and iPhone 8 Plus sent the scrip 0.40 per cent lower on September 12, 2017.

On September 9, 2015 the tech giant launched iPhone 6S and the stock greeted it by sliding 1.92 per cent to $110.15. The list is long.

The Steve Jobs-founded company launched iPhone 6 on September 9, 2014, when the stock fell 0.38 per cent. On September 20, 2013, when the company unveiled two models – 5S and 5C – the stock took a beating and fell 1.17 per cent.

On October 4, 2011, Apple shares fell 0.6 per cent following the launch of iPhone 4s. The unveiling of iPhone 4 in June 2010 and iPhone 3GS in July 2009 also resulted in weak returns for Apple shares.

Among the few times the stock rose on the product launch was the launch of iPhone 11, iPhone 11 Pro and iPhone Pro Max on September 10, 2019. That day, the scrip rose 1.18 per cent.

Apple launched iPhone 7 on September 7, 2016. That day, the stock advanced 0.6 per cent to $108.36, only to give up the gains and fall 2.62 per cent and 2.26 per cent in the subsequent two sessions.

Before that, when Apple launched iPhone 5 on September 12, 2012, it sent its stock rising 1.4 per cent higher.

The fourth time, when Apple shares really did well was the unveiling of its first ever iPhone on January 9, 2007. That day, the stock surged 8.52 per cent!

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