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All The Stocks That Moved During Apple's Product Unveil Event

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All The Stocks That Moved During Apple's Product Unveil Event
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If anyone doubts Apple Inc. (NASDAQ: AAPL)’s pervasive influence, direct them to the market charts of Sept. 12.

As CEO Tim Cook and team unveiled the iPhone X, iPhone 8, Watch Series 3 and 4K TV at a special reveal event, a number of tech friends and foes braced for stock shocks.

Movers

Here are some of the most reactive names:

Dolby Laboratories, Inc. (NYSE: DLB): The audio and imaging firm saw most of its movement Wednesday, when it popped 9.2 percent on news that Apple TV 4K supports Dolby vision titles.

Lumentum Holdings Inc (NASDAQ: LITE): According to Piper Jaffray, Lumentum controls the entire market for VCSELs, 3D sensing technology integrated into the iPhone X. While the stock initially rose 2.6 percent on the iPhone’s reveal, it quickly plunged 5.8 percent as investors took notice of just one-sided sensing against expectations of front and rear capabilities.

Snap Inc (NYSE: SNAP): The master of filters fell as Apple unveiled its rival “Animoji” feature but popped 1.9 percent on news that third-party applications could access Apple’s 3D face camera. Elation deflated almost immediately with a 3.1-percent price drop.

Related Link: Why Broadcom Will Likely Be A Big Winner From Apple's iPhone Launch

Energous Corp (NASDAQ: WATT): The latest iPhones feature wireless charging, but not via Energous tech. Apple’s use of Qi standards prompted a 18.7-percent plunge in the alternative supplier.

Cypress Semiconductor Corporation (NASDAQ: CY): Apple’s shift to the wireless station was an expected boon for Cypress. While a supplier agreement was not referenced at the event, investors propelled the semiconductor 2.6 percent considering its implicit position to profit.

And A Few Unmoved Names

Some stocks remained unexpectedly stoic in the face of positive or negative Apple updates.

Despite having been explicitly marked collaborators, China Telecom Corporation Limited (ADR) (NYSE: CHA), China Mobile Ltd. (ADR) (NYSE: CHL) and China Unicom (Hong Kong) Limited (ADR) (NYSE: CHU) were unaffected by news that they would carry Apple Watch 3 LTE services. Apple has long suffered weakness in China, where domestic vendors continue to poach market share.

Meanwhile, Intel Corporation (NASDAQ: INTC), Advanced Micro Devices, Inc. (NASDAQ: AMD) and NVIDIA Corporation (NASDAQ: NVDA) were unmoved by news that the iPhone 8 would carry, for the first time, an Apple-designed graphic processing unit.

Related Link:

iPhone X Hints At 'The Post-Smartphone World'

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Image Credit: Apple

Posted-In: 4K TV Apple TV Apple Watch iPhone 8News Events Tech Trading Ideas Best of Benzinga

 

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