Throughout the day, consumer reactions to each revealed feature of the iPhone 6 were reflected in the stock market.
After the mobile payment system was announced by CEO Tim Cook today, Apple stock rose. However, the stock fell right back down when the company revealed that the new watch will only be compatible with iPhones and won't be released until 2015, USA Today reported.
The stock went up and down all day today, staying close to $100. The day is almost over and stocks are settling at $97.99, which is down $0.37 from before the announcement, according to USA Today.
This drop is $4.70 less than their high from two months ago - $102.69.
In the past, Apple stock has struggled in the moments immediately after a product was released, Christian Science Monitor reported.
However, some analysts foresee an increase in stock in the long-term.
"I believe if Apple delivers what everyone says they will deliver - two phones, one watch, mobile payments, iOS 8 and new OS/X - they will have a blockbuster next few months" Ken Dulaney, vice president and analyst at Gartner Research, a technology research firm based in Stanford, Connecticut, told Christian Science Monitor in an email before Apple's event.
