After Apple Inc. (NASDAQ:AAPL) made its much-anticipated new product announcement yesterday That afternoon,the price of AAPL stock rose and then fell, ending the day down 0.38 percent. So far today (Wednesday), AAPL has again gone up, then down, then up again. As of 12:40 p.m., it was up 2.14 percent.
The zig-zagging stock price indicates the reaction to the product announcements was mostly positive, though mixed. While one prominent analyst was underwhelmed by the new products and downgraded the stock from “outperform” to “perform,” most analysts and Apple fans were happy with the announcement.
Overall, for the week from Tuesday, Sept. 2, to Tuesday, Sept. 9, Apple dropped 5.14 percent, which was far below the market as a whole, with the major indexes dropping, at most, about 1 percent during that time.
Most of Apple’s fall for the week was not related to the product announcement, but took place earlier on last Wednesday when AAPL dropped 4.22 percent, its largest one-day decline in seven months, due at least in part to the publicity over the hacked nude celebrity photos.
After that, the stock price for the rest of the week was less volatile.
Here’s an overview of the new products announced yesterday:
The Apple Watch
The Apple Watch — which is not being called the iWatch, at least not officially — comes in three styles and two display sizes. Bands are available in silicone, aluminum, and leather. The Watch is controlled by its touch screen, dial and button on the side, and voice commands via Siri.
The Apple Watch has many features to promote fitness. Its sensors measure calories burned and heart rate, among many other things, and the Watch tracks all activity and shows how well users are meeting their fitness targets and goals.
Third-party apps will enable the Apple Watch to interact with the physical environment by turning on lights, adjusting the heat, and opening some hotel doors.
The Apple Watch will be available in early 2015 — too late for this year’s holiday shopping season — and will be priced at approximately $350.
Apple’s new mobile payment system will be available on both the iPhone 6 and the Apple Watch. It’s a wireless payment system that enables users to charge items to the credit or debit cards that they have on file in their iTunes accounts without having to use the physical cards themselves. Rumors are that Apple will earn a fee for every Apple Pay transaction.