Here’s How the Apple Event Has Caused Several Stock Selloffs

Apple Inc. (AAPL) just unveiled a new line of products, including bigger iPhones and plans for a high-tech watch next year.

Apple iPhone 6 Plus announced
Source: Apple

Thus far, AAPL stock has been pretty muted in its reaction as investors have largely been expecting the bigger Apple iPhone lines and the smartwatch. However, the details of those products — as well as news of a new concerted effort at AAPL to tackle mobile payments — have resulted in other stocks moving pretty big in the past day or so as a result.

Here are the companies Apple has been affecting elsewhere on Wall Street:

GT Advanced Technologies: A little company called GT Advanced Technologies (GTAT) has imploded by about 25% in a few days. This isn’t necessarily because of bad news, per se, because the stock actually still is up more than 85% in the past 12 months on news that it would provide AAPL with the “sapphire” material used in its scratch-proof screens. GTAT stock has sold off now that the news cycle has moved on, and investors have taken their profits after the Apple event.

Ebay: The PayPal arm of eBay (EBAY) has long been seen as the biggest driver of growth for the tech giant. However, the news that AAPL stock is getting serious about mobile payments with its Apple Pay system was greeted with groans by EBAY stock holders. Competition will heat up here for sure, and since eBay is very dependent on PayPal growth, that could mean pain as AAPL claws market share in the months and years ahead.

Swatch: I’m not saying it’s logical, but it’s worth noting that Swiss watchmaker Swatch (SWGAY) is off about 4% in a few days amid talk about the Apple Watch hitting the marketplace in 2015. I’m not sure how the smartwatch is exactly a core competitor to the bread-and-butter line of Swatch watches that simply tell time, but investors have sold off SWGAY in the past few days nonetheless.

Samsung: Samsung (SSNLF) — the biggest competitor to the Apple iPhone line with its Galaxy gadgets — is off about 6% in the last few days. Many consumers have long preferred Samsung Galaxy phones over the Apple iPhone simply because of size issues, but an oversized AAPL lineup means the competition is heating up.

Jeff Reeves is the editor of InvestorPlace.com and the author of The Frugal Investor’s Guide to Finding Great Stocks. As of this writing, he did not hold a position in any of the aforementioned securities. Write him at editor@investorplace.com or follow him on Twitter via @JeffReevesIP


Article printed from InvestorPlace Media, https://investorplace.com/2014/09/aapl-stock-apple-event-ebay-samsung/.

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