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 a better than expected second quarter earnings report.
