Apple held its WWDC keynote today, a virtual affair that managed to convince swaths of the technology industry to watch a pre-recorded video.
While TechCrunch has posts galore up on the site about all the latest stuff from Cupertino, we also kept an eye on Apple's stock price during its event. Doing so is a TechCrunch tradition, even if the company's shares don't tend to trade too sharply during its events.
Apple has the ability to rock other boats, however, as we learned during its 2018 hardware event that kneecapped the value of Fitbit after the Apple Watch Series 4 was announced. So, consider this short entry a look at Apple's own share performance, and whomever else got swept up in its wake.
The WWDC keynote just wrapped, so here's the full share-price result from the long-form video presentation:
Data via Yahoo Finance. Annotations via TechCrunch.
If you don't know what to make of that, don't worry, we understand. In fact, in preparation for that chart being somewhat hard to parse, we've prepared a per-announcement rundown of what Apple just shared, and what the news did for its investors.
So, in honor of the venerable tradition of live blogging Apple events, TechCrunch presents you with a world-first Apple keynote stock market live blog blog post. Let's go:
- 12:18 ET: Apple shares are up 2.12% to $357.13. Apple shares are up today as the market itself rises, though the company is up about as much as Microsoft is on the day, and double what Alphabet has managed thus far.
- 1:04 ET: Apple shares are unchanged as WWDC starts with its CEO Tim Cook talking about the company, its coming week and how it is responding to the national crisis of systemic racism and state violence.
- 1:07 ET: Apple shares new iOS features. Its stock doesn't move.
- 1:15 ET: Siri updates appear, Apple stock is up 2.2%, effectively unchanged.
- 1:20 ET: Messages updates also fail to move the stock; Alphabet shares also doing just fine.
- 1:29 ET: App Clips fail to move Apple's stock, which is currently still up 2.15%; iOS updates therefore did a full nothing to Apple's share price.
- 1:42 ET: Deep into the iPad updates, including Apple envisioning you using a pencil to write because keyboards are somehow overrated, the company's shares are up a nearly unchanged 2.03%.
- 1:44 ET: Updates to Apple's big hit AirPods Pro unchanged stock price at +2.14%.
- 1:51 ET: Apple Watch and watchOS 7 fail to move Apple's share price.
- 1:54 ET: Apple Watch app to help with hand washing fails to quiet market concerns about rising COVID-19 cases, Apple share price steady at +2.16%.
- 2:00 ET: Apple's pretty darn good privacy updates don't move the stock, which is up 2.05%.
- The Nasdaq, by the way, is over 10,000 today. Again.
- 2:13 ET: macOS updates, shares do not.
- 2:19 ET: +2.16%, nothing to see here.
- 2:25 ET: Apple is talking about Safari, but its shares are pretty flat at +2.19%.
- 2:31 ET: Apple +2.28% as the company talks about processors.
- 2:33 ET: Intel shares are not moving, sticking to their gains of +0.38% today, for what it's worth.
- 2:41 ET: Apple developer updates continue, Apple shares are up a smidgen more at +2.34%.
- 2:46 ET: Apple talking about developer transition to Apple silicon, the future of macOS on Intel chips and the company's future as a real chip manufacturer. Shares now up just 2.30% as Tim Cook wraps up his notes.
And that's that.
We made this long, tedious joke about how Apple announcements don't move its share price for two reasons. First, investors obviously have no idea what any of the company's announcements mean. And, second, because that fact mocks fans of the efficient market theory. Investors big and small now have loads more information than they did, and, in their view, Apple's shares are worth precisely what they were before. Huzzah.
You can catch up on all the Apple news here.