A year ago, Apple seemed unstoppable. Its share price topped $700. Its cash horde eclipsed the GDP of many countries. Pundits mused about a $1 trillion market cap with a straight face. But nowadays, Wall Street sees Apple very differently — and this morning’s much-hyped iPhone announcements from the tech giant did little to stop its year-long descent into stagnation. Apple’s gold phones, 64-bit processors, and fingerprint sensors barely budged the needle on Wall Street, as shares fell more than 2 percent from the day’s opening price of $506.20.
The great slide began last September. By April of this year, Apple had shed nearly $300 billion in value, and shares bottomed out below $400. As WIRED wrote at the time, bearish sellers had plenty of reason to doubt that the post-Jobs Apple could still dazzle. Yet Apple CEO Tim Cook did little to reassure investors. As Samsung handsets gained market share and prices on Android phones fell, investors doubted Apple could keep charging the premium prices that kept its margins high. Worst and most obvious of all, Apple failed to feed the insatiable consumer appetite for the new. As has been widely reported, its new iPhone announcements today mark the end of the longest gap in new hardware releases since at least the launch of the iPad.
Read more here --> wired.com
Also Read this --> Apple's two new iPhones target high and low-end markets
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