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Apple stock slumped on Friday, but it shouldn’t have

Friday September 23, 2022. 09:41 PM , from Mac Daily News
Apple stock slumped on Friday, but it shouldn’t have
Shares of Apple tumbled in Friday trading, falling as much as 2.2% in the morning session. As of 03:36 p.m. EDT, the stock was still down 1.83%.

Danny Vena for The Motley Fool:

The broader market indexes were caught in a downdraft, which no doubt contributed to the iPhone maker’s slump. However, even as the tech giant fell, there were several reports that held positive news for the company — and shareholders.
Earlier this month, Apple announced the latest version of its popular earbuds, the second generation of the AirPods Pro. The earliest reviews of the fan-favorite devices are in — and users are raving.
CNET called them “the best small earbuds you can buy,” citing the improved sound, active noise cancelation, and better battery life, saying they “deliver exceptionally good performance for their size.” At the same time, TechCrunch said “you won’t want to take them out of your ears,” also applauding the better sound, active noise cancelation, transparency mode, and the case that supports wireless charging. These accolades came as AirPods hit stores today…
In perhaps even bigger news, the company has inked a multiyear deal with the National Football League, making Apple Music the new sponsor of the NFL Super Bowl halftime show. The centerpiece of the annual championship football game each February, the halftime show is an extravagant event known for hosting some of the biggest performers in the industry, making it a perfect showcase for Apple’s subscription music service.

MacDailyNews Take: Vena doesn’t mention a bit of even more recent positive news: the shift toward iPhone Pro models by the buying public which will make for a strong iPhone mix and, helpful to Apple and AAPL shareholders, a higher iPhone ASP!
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The post Apple stock slumped on Friday, but it shouldn’t have appeared first on MacDailyNews.
https://macdailynews.com/2022/09/23/apple-stock-slumped-on-friday-but-it-shouldnt-have/

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