Talk about good timing. As Steve Jobs was launching the iPhone, the company’s share price must have been somewhere in the back of his mind as Apples shares feel 2.2 per cent on the New York Stock Exchange.
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According to marketwatch.com, the lower pricing for the new iPhone will: “likely help Apple land a much larger share of the fast-growing market for so-called smart phones, taking on Nokia.”
Furthermore says the report, “The new version of the iPhone will operate at faster speeds than current models; it will also sell at prices comparable to the company’s iPod line of digital-media players”.
But as usual, the market seemed to have a mind of its own as the news was greeted with a “mixed reaction from investors, who drove Apple’s shares down more than 5 per cent after the announcement, though the stock managed to regain some ground by the closing bell.” according to the report.
But maybe the market hasn’t fully appreciated the scope and breadth of the iPhone offering though.
It seems that with its Cisco VPN attributes, Microsoft Server compatibility and faster speeds, Apple has now firmly thrown its hat into the enterprise ring, a domain that Microsoft once thought of as its own backyard.
Perhaps then, Apples share price might be heading north once again.