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Why Apple’s Stock Dropped So Soon After the iPhone 7 Was Announced

September 9, 2016

Via: Time

Nothing can dominate the tech world’s conversation quite like a big Appleevent. And sure enough, this week’s announcement of the iPhone 7 has spawned several discussions: Shutterbugs liked the phone’s new camera. Nintendo fans rejoiced at Super Mario’s arrival on the iPhone. Music lovers huffed over Apple’s insistence on killing the beloved headphone jack.

Then there’s the constituency that’s been giving Apple grief for the past year: its investors. Apple’s stock has lost a fifth of its value since reaching $132 a share in 2015 as stockholders became focused on one primary concern: Has the iPhone, which accounts for nearly two thirds of Apple’s revenue, hit peak popularity?

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