It was an interesting day for Apple stock yesterday. Durning Steve Jobs’ keynote at WWDC we saw their stock go up and down as the time went on, and eventually once the keynote was over, it just stayed down for a while. It has been steadily climbing back-up, but now their competitors and other cell phone providers are seeing their stock drop as the news of the iPhone 3G settles in. The iPhone can sure rattle things up, can’t it?
So who’s up and who’s down as of 9:45 AM (CST)?
- Apple (AAPL): + 3.56
- Research In Motion (RIM): -0.53%
- Nokia: -2.10%
- Garmin (with their Nuvi Phone): -5.51%
- Samsung: -2%*
- HTC: – 6.9%*
*= closing value from yesterday
PC World attributed the fact that stocks were sinking to Apple’s new iPhone. It’s now 3G, half the price, and it’s one of the most affordable smartphones out there that is full of features. Clearly other manufacturers and carriers are worried. Let’s take a look at some of the carriers in the U.S. to see what’s going on:
- AT&T: -1.06%
- Verizon: -1.87%
- Sprint Nextel Corp.: -3.85%
- T-Mobile: -1.67%
Some of you are probably wondering why AT&T stock is down if they are the exclusive carrier in the United States for the iPhone. While the iPhone is great for AT&T, they did release an announcement saying that over the next two years they will be losing money because of the cheaper price on the phones. In the end though, they should benefit because they are expecting an increase in subscribers.
Steven Hartley, a senior analyst at Ovum, a marketing research firm said in regards to the iPhone, “We feel that this time the potential for disruption is great than before. Apple’s marketing strength has allowed it to consistently punch above its market share weight. Vendors should not be complacent and must continue to focus on the user experience to regain the marketing initiative from the iPhone, or risk losing even more ground in the high device marketing stakes.“