We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Shares of Apple (AAPL - Free Report) dipped nearly 2.3% in morning trading Wednesday as investors paused for a brief moment of hesitation, likely caused by lackluster reviews and reports of connectivity issues with its new Apple Watch Series 3.
The Series 3 is an important milestone for the Apple Watch brand, as it is the first device in the product line to feature GPS navigation and cellular connectivity (also read: What You Need To Know About The New Apple Watch Series 3).
However, the new smartwatch is just starting to get in the hands of industry reviewers, and the first round of reports has been less than inspiring.
For example, The Wall Street Journal’s Joanna Stern criticized the device’s battery life, saying that users will be “lucky if the battery allows you to roam on cellular for longer than half a day — especially if you're making calls.”
Stern also complained about dropped calls on AT&T (T - Free Report) and T-Mobile (TMUS - Free Report) networks, ultimately concluding that users would be better served by sticking with the Series 2 or opting for the GPS-only Series 3 until its connection issues are solved.
These frustrations were echoed by The Verge’s Lauren Goode, who also mentioned that establishing a cellular connection with the Series 3 was challenging. Goode wrote that the device was stuck on “random” Wi-Fi signals, which made interacting with Siri and sending messages difficult. Interestingly enough, these complaints were enough to spark a response from Apple itself.
“We have discovered that when Apple Watch Series 3 joins unauthenticated Wi-Fi networks without connectivity, it may at times prevent the watch from using cellular,” a company spokesperson toldThe Verge. “We are investigating a fix for a future software release.”
Still, the Series 3 appears to be getting near-universal recognition as the most powerful smartwatch on the market today. However, with key features of the highly-anticipated device already falling flat, investors might be getting nervous about the rollout of Apple’s latest line of hardware.
Apple shares moved as low as $153.83 this morning—a 3.1% dip from Tuesday’s close. Through morning trading hours, the stock was down a little over 2.2% to $155.20 per share.
Of course, the Apple Watch remains a relatively small fraction of Apple’s total revenue, and investors will be more concerned about a smooth debut for the company’s iPhone 8 and iPhone X devices. Nevertheless, these tepid early reviews were enough to slow down one of Wall Street’s hottest consumer electronics stocks.
Want more stock market analysis from this author? Make sure to follow @Ryan_McQueeney on Twitter!
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020. Click here for the 6 trades >>
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Why Did Apple (AAPL) Stock Slump Today?
Shares of Apple (AAPL - Free Report) dipped nearly 2.3% in morning trading Wednesday as investors paused for a brief moment of hesitation, likely caused by lackluster reviews and reports of connectivity issues with its new Apple Watch Series 3.
The Series 3 is an important milestone for the Apple Watch brand, as it is the first device in the product line to feature GPS navigation and cellular connectivity (also read: What You Need To Know About The New Apple Watch Series 3).
However, the new smartwatch is just starting to get in the hands of industry reviewers, and the first round of reports has been less than inspiring.
For example, The Wall Street Journal’s Joanna Stern criticized the device’s battery life, saying that users will be “lucky if the battery allows you to roam on cellular for longer than half a day — especially if you're making calls.”
Stern also complained about dropped calls on AT&T (T - Free Report) and T-Mobile (TMUS - Free Report) networks, ultimately concluding that users would be better served by sticking with the Series 2 or opting for the GPS-only Series 3 until its connection issues are solved.
These frustrations were echoed by The Verge’s Lauren Goode, who also mentioned that establishing a cellular connection with the Series 3 was challenging. Goode wrote that the device was stuck on “random” Wi-Fi signals, which made interacting with Siri and sending messages difficult. Interestingly enough, these complaints were enough to spark a response from Apple itself.
“We have discovered that when Apple Watch Series 3 joins unauthenticated Wi-Fi networks without connectivity, it may at times prevent the watch from using cellular,” a company spokesperson told The Verge. “We are investigating a fix for a future software release.”
Still, the Series 3 appears to be getting near-universal recognition as the most powerful smartwatch on the market today. However, with key features of the highly-anticipated device already falling flat, investors might be getting nervous about the rollout of Apple’s latest line of hardware.
Apple shares moved as low as $153.83 this morning—a 3.1% dip from Tuesday’s close. Through morning trading hours, the stock was down a little over 2.2% to $155.20 per share.
Of course, the Apple Watch remains a relatively small fraction of Apple’s total revenue, and investors will be more concerned about a smooth debut for the company’s iPhone 8 and iPhone X devices. Nevertheless, these tepid early reviews were enough to slow down one of Wall Street’s hottest consumer electronics stocks.
Want more stock market analysis from this author? Make sure to follow @Ryan_McQueeney on Twitter!
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020. Click here for the 6 trades >>