Apple Inc. Stock Hit By Hardware And Software Fiascos

iphone 8 apple stockElisaRiva / Pixabay

Apple Inc. (NASDAQ:AAPL) shares were down on Wednesday as investors questioned the durability of the iPhone 6 and its latest software update. The stock dropped 89 cents or .9% to $101.75, turning down the heat of the iPhone 6 launch on Sept. 19.

Multiple issues reported

The Cupertino, Calif.-based company is the most valuable company in the United States, so even a small decline in the company’s share price does matter.

An issue with the latest iPhone and the operating system is a jolt to the company’s image. A video that has become popular on the web shows how the new iPhone can bend just by placing small pressure on it. These phones are so delicate that they bent in the pockets of some users while they were sitting. Also there was a heap of complaints about the weak and often disappearing cellular connection, as well as the quickly dying battery, after which the company withdrew the update.

Apple launched iOS 8 just before the release of the iPhone 6 and iPhone 6 Plus, but there was a slew of complaints after the launch. Then on Wednesday, after the release of the newest update to iOS, more issues emerged in the way devices connect to mobile networks, along with the Touch ID fingerprint sensor.

A dent on Apple Inc.’s image

Acknowledging the issues, an Apple spokesperson said, “We have received reports of an issue with the iOS 8.0.1 update. We are actively investigating these reports and will provide information as quickly as we can,” adding that the company withdrew the iOS 8.0.1 update.

According to technology website ZDNet, many users took to Twitter to write about the problems that emerged after updating the operating system. Some of the tweets said that they cannot find a phone signal after downloading the update, as their phone remains in searching or no signal mode. The only way to get rid of the problem is to return to the previous iOS 8 version, which is a huge embarrassment to Apple, the company known for perfection. The iOS 8 update was released to fix bugs in the HealthKit apps.

Although shares of Apple are 27% up this year, the recent incident does dent the image of the most valuable company in the U.S.

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About the Author

Aman Jain
Aman is MBA (Finance) with an experience on both Marketing and Finance side. He has worked as a Risk Analyst for AIR Worldwide, and is currently leading VeRa FinServ, a Financial Research firm. Favorite pastimes include watching science fiction movies, reviewing tech gadgets, playing PC games and cricket. - Email him at [email protected]

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