- The drop in stock prices comes with release of a rival phone in China
Apple’s iPhone 15 event may attract stock prices, but, will it be enough to recover its stock market valuation, which fell by more than 6%, or almost $200bn (£160bn), in two days last week?
Chinese government workers have been banned from using iPhones which has already down the stock market rate.
One of the world’s largest independent financial advisory, asset management and fintech organisations, says that investors will see a dip in the stock price as a buying opportunity.
“Apple’s new iPhone showcase today, dubbed ‘Wonderlust,’ unveil new hardware, including the iPhone 15 and Apple Watch models, said Nigel Green, CEO and founder of deVere Group.
“Apple’s iPhone events typically generate significant buzz and anticipation, leading to a surge in sales. This in turn will boost stock prices for shareholders in the short-term. However, we don’t expect it to be enough to recover its full stock market valuation, which fell by more than 6%, or almost $200bn in two days last week”, he added.
The drop in stock prices comes simultaneously with releasing a rival phone in China, the Huawei Mate 60.