Apple’s Latest iPhone 6S is Already a Bore

Apple’s Latest iPhone 6S is Already a Bore

The Apple iPhone 6 Plus. (Apple Photo)
The Apple iPhone 6 Plus. (Apple Photo)

(USA Today) – Another iPhone is coming! Is that even still “a thing?” It’s not with investors – as the novelty has more than worn off.

Shares of Apple have fallen 6.2% in the 30 days prior to Wednesday’s widely anticipated announcement of the iPhone 6S. That’s a highly unusual move for the stock that has raced higher by an average of nearly 5% in the 30 days prior to the previous eight models. It’s the first time Apple’s stock has fallen leading up to an iPhone launch since the original iPhone in 2007 – ending what had been a dependable source of returns for investors.

Investors are counting on Apple to keep the excitement going over its aging iPhone smartphone line, which was first introduced more than eight years ago. The company gets two-thirds of its revenue from this single product line, 74% of its gross profit from the iPhone and this one product accounts for 61% of its stock price, says Trefis.com. Other new products including the iPad, Apple Pay, Apple Watch and Apple Music have failed to meaningfully diversify the company’s offerings – especially profitability.

The broad market’s troubles are certainly somewhat to blame for the fall in Apple’s stock price heading into the new iPhone announcement. The Standard & Poor’s 500index dropped a slightly more severe 6.4% during the same time – and has been hit with a correction.

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