This morning, Apple unveiled a range of updated hardware products. For those who haven't seen the news, the announcements include a $99 HomePod Mini, updated iPhone models, a novel way to interact with devices using voice commands, the reintroduction of MagSafe technology, initiatives presented as environmentally conscious cost reductions, and, naturally, the latest premium smartphones.

Notably, Apple invited Verizon Chief Executive Officer Hans Vestberg to participate in the presentation, a decision that immediately garnered the attention of investors in the telecommunications sector. This is the reason we are including a review of how our parent company’s ultimate parent company’s stock is performing in our standard analysis following Apple’s product announcements.

Market reaction

Prior to the event, Apple’s stock performance was fluctuating, ultimately stabilizing to a neutral position during the early hours of trading. The company’s equity experienced an initial decline before the iPhone presentation began, but then showed a recovery as the event progressed.

However, this recovery in value proved to be temporary, and Apple’s stock ultimately decreased in value throughout the course of the presentation (chart provided by YCharts, with annotations from TechCrunch):

Consequently, the day proved unremarkable for Apple investors.

The Apple event had a particularly noticeable effect on another company. Observe the point in time when Verizon became part of the event coverage (chart courtesy of YCharts, annotations by TechCrunch):

This is the type of response typically desired from events of this nature. It suggests the company featured on stage delivered information significant enough to influence investor sentiment, indicating a level of surprise regarding the announcements.

Given the frequent pre-release leaks surrounding Apple events, the relatively stable stock performance may not be unexpected.

In contrast, Verizon’s news generated a more substantial initial reaction. The company announced “its nationwide 5G network,” as reported by The Verge. Investors responded positively, although they later partially reversed their positions by selling off shares.