Apple AAPL shares were down more than 1.5% in early morning trading Friday—a day which most Apple investors hoped would be a celebratory moment. Instead of celebration, however, the worldwide release of the company’s long-awaited iPhone 8 is being met with concern about demand for the device.
While we won’t likely won’t know any hard sales numbers for some time, investors are displaying nervousness after several reports of shorter lines at Apple stores around the world. For example, Reuters said the launch kicked off in a “less lively mood” throughout Asia and described “fewer than 30 people” lining up outside of Apple’s Sydney store.
In a similar vein, CNET mentioned that the line in Sydney “didn't snake around as many blocks as it has in the past.” The publication also reported that Apple store employees in China observed such short lines that they were forced to remove crowd control barriers.
Others have reported shorter-than-usual lines in Singapore, London, and New York. Of course, there are several new factors at play during this iPhone launch. Online preorders have become more popular than ever, meaning that showing up to wait in line is really just fanfare.
Also, excitement for the iPhone 8 is muted because customers are already looking forward to the special-edition iPhone X, which will debut in early November (also read: Everything You Need to Know About the iPhone 8 and iPhone X).
Nevertheless, Apple shares have slumped on the back of these reports, and we’ve seen plenty of mixed reactions throughout the social media world as well. It’s a big day for Apple and its investors, so the internet has been understandably reactionary to the news.
Here at Zacks, we like to keep our eye on these social media reactions. Here are a few of our favorite tweets on the matter:
$AAPL bear case: The line at Palo Alto location waiting for new watch 3 and iphone 8 (only a dozen in line) pic.twitter.com/aEBEdjgmrz— Steve Feffer (@sfef84) September 22, 2017
Theres more employees than peeps standing in line for the new $AAPL phone #LOL— Mr Tee (@Mr_Mrs_Tee) September 22, 2017
$aapl iPhone 8 launch a bust. No surprise there, we all already have the 7 which is basically the 8.— $ERGE (@roymaj) September 22, 2017
iPhone 8 numbers shouldn't be a concern for $AAPL - people want the iPhone X. Americans love to spend and China will follow.— Kyle J. Bales (@KyleJohnBales) September 22, 2017
Everyone waiting for the X, including me, which means higher margins for $AAPL https://t.co/DWWqPlXwBK— Leigh Drogen (@LDrogen) September 22, 2017
And of course, the community at StockTwits had plenty to say about the iPhone 8 launch too:
$AAPL Apple longs furious with Tim Cook's bungling of iPhone launch and lack of innovation.— Marty Epstein (@Stock_Trading_Legend) Sep. 22 at 10:02 AM
$AAPL This is historic and should tell you everything you need to know about apple strategy. A show off with not much to show.— Mark Scott (@markscott) Sep. 22 at 10:04 AM
$AAPL most of the people have rate plans and get delivered by mail— Tradenature (@tradenature) Sep. 22 at 10:02 AM
$AAPL Ok you fair weather investors. Get real and stop bitching. This will pop back. It always does. Stop dumping on Cook. He's got it down!— Joe Mirabella (@jam3) Sep. 22 at 09:59 AM
As you can see, the reactions have been mixed. How do you feel about the launch? Join the conversation with ZacksResearch on StockTwits and Twitter!
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