While consumers may have been excited about the fingerprint technology or colorful aesthetics of the new iPhones announced yesterday by Apple, investors aren’t quite as happy.
Apple’s stock dropped a little more than five percent today on top of a two percent slip on Tuesday, days after the tech giant introduced two new iPhones: the 5S and the 5C.
Analysts say Apple priced its new devices too high, particularly with the 5C, which is very similar to the iPhone 5 and starts at $549 unlocked. The 5S, meanwhile, is a larger upgrade that features a new 64-bit processor with an improved camera starting at $649 unlocked.
Meanwhile, Facebook enjoyed a better day on Wall Street on Wednesday, surpassing $45 a share while setting an all-time high. It’s been quite the roller coaster so far for the social media giant, which saw its stock drop to $17.55 one year ago just months after its first trading day. The stock is up nearly 90 percent in the past three months, largely due to abetter than expected second quarter earnings report.
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