When it comes to innovation, there are few companies that can compete with Apple (NASDAQ:AAPL). The tech giant’s ability to incorporate novel technology in its products has made the company’s stock one of the most popular investments on the market. AAPL stock currently makes up 6.7% of the S&P 500 which is a huge feat for a company of its size.
Hence, it comes as no surprise that investors weren’t too pleased when the company’s big product unveiling last week did not feature a new iPhone. The hype around 5G had many investors and buyers hoping for the release of Apple’s new iPhone that incorporates this technology. But the company known for its “one more thing” moments during product reveals, left investors yearning for more.
AAPL stock did see a decline in its share price following the event