Apple Shares Down 3% for the Week

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After earnings, new Mac introductions, and speculation about the iPhone 8, Apple Inc.’s (NASDAQ: AAPL) t0 shares dropped 3% last week to $113.69.

As a summary, Apple claims the new MacBook Pro has graphics which are 130% faster than its predecessor, a 67% brighter display, and is 17% thinner. The 13 inch model weighs 3 lb and is 14.9 mm “thin”. The 16 inch model weights 4 lb and is 1.5 mm thin. According to Apple, the machine has a new, revolutionary feature:

And it introduces the Touch Bar — a Multi-Touch enabled strip of glass built into the keyboard for instant access to the tools you want, right when you want them. The new MacBook Pro is built on groundbreaking ideas. And it’s ready for yours.

For the most part, the press did not consider that feature terribly ground breaking.

As for earnings, Apple has a rough quarter, and a rough fiscal year. The consumer electronics firm announced:

… financial results for its fiscal 2016 fourth quarter ended September 24, 2016. The Company posted quarterly revenue of $46.9 billion and quarterly net income of $9 billion, or $1.67 per diluted share. These results compare to revenue of $51.5 billion and net income of $11.1 billion, or $1.96 per diluted share, in the year-ago quarter. Gross margin was 38 percent compared to 39.9 percent in the year-ago quarter. International sales accounted for 62 percent of the quarter’s revenue.

As for the iPhone 8, many speculators believe it will need to be a great leap into the future of smartphones to make Apple a growth company again:

According to Japan’s Nikkei:

And a 5-inch iPhone 8 would add a new option to the current lineup which includes 4.7-inch and 5.5-inch flagship models.

“Apple has tentatively decided that all the 5.5-inch, 5-inch and 4.7-inch models will have glass backs, departing from metal casings adopted by current iPhones, and Biel and Lens are likely to be providing all the glass backs for the new iPhones next year,” the source said.

All that and only a 3% move.