[quickthrowman]

> And yet I'm left wondering why the investors had such a bad reaction to its launch?

AAPL made a new all time high this week and yesterday it set a new all time high closing price.

Selling off 3% after running up to a new ATH prior to WWDC is not a bad reaction, lol.

[mercutio2]

Agreed that a 3% sell-the-news drop is minor.

But worth noting, in an era of higher inflation and stock buybacks, that probably the relevant metric for investor happiness is real enterprise value (that is, discount market cap by net cash, then adjust for inflation).

By that measure they’re pretty far from the pandemic peak.