“Let’s Rock” Didn’t Help The Apple Stock

Posted Sep 9, 2008

Today Apple Inc. (NASDAQ:AAPL) held an event called “Let’s Rock” in California to announce their new product line-up.  The event started at around 10AM Pacific Time earlier today. 

The first thing that Jobs talked about was his health. “The reports of my death are greatly exaggerated,” stated one of Jobs’ slides.  This slide was in reference to Bloomberg accidentally publishing and retracting an article with Steve Jobs’ obituary.  Jobs then started talking about iTunes.

iTunes is still #1 for music distribution in the world.  There are about 65 million users on iTunes.  iTunes also started TV shows in HD and this includes shows provided by NBC.  iTunes 8 has also been released.  iTunes 8 has music album and song browsing in an iPhoto style.  There is also a “Genius” feature that creates suggested audio and video playlists to iTunes users.

New iPod Nanos
The iPod has a 73.4% market share in the U.S.  Over 160 million iPods have sold so far.  The Classic iPod is now available at 120GB for $229.  The iPod nano was redesigned.  The new nano has a bigger screen and is the thinnest iPod Apple has made so far.  One of the most interesting features on the new nano is “shake-to-shuffle.”  This shuffles to a random song just by physically shaking the device.  The new nano is also the most toxin-free iPod, making it environmentally safer than before.  The new nano is available in 8GB and 16GB and will start selling in stores immediately.  They come in 8 colors too.

New Headphones
Apple has released two new types of headphones.  The first is similar to the regular iPod headphones, but has a volume control switch connected to the cable.  The second type of headphones is also in-ear, but looks more comfortable. 

New iPod Touch
The new iPod Touch is thinner, more stable, has Genius-support, and also still has access to the App Store.  Jobs added that over 100 million applications have been downloaded so far. 

Phil Schiller, SVP of Product Marketing at Apple showcased Spore on the iPod.  Spore is a video game that was developed by Maxis, the company that is famously known for it’s Sim game series.  Spore uses the iPod accelerometer to travel throughout the universe.  Another couple of games that were showcased at the event was Real Soccer 2009 and Need For Speed.

The 2.1s
Jobs talked about the iPhone 2.1 and iPod Touch 2.1.  These new devices have less reception issues and less dropped calls.  These new devices also have less issues interacting with App servers. 

Wall Street
Despite the product line-up, Apple’s stock dropped by almost 4%.  The stock opened at about $157 per share and then closed at about $152.  Microsoft Corporation (NASDAQ:MSFT) is expected to release a fresh line of Zunes to match some of the new iPod features within the next month.