Chris Whitmore of Deutsche Bank said the device could create a “fourth leg” in Apple’s product lines, and Charlie Wolf of Needham & Co. said the device should be a success out of the gate.
Despite these endorsements, however, shares in Apple fell Thursday to close at US$199.29, a loss of $8.594 (-4.13%), on heavy volume of 41.6 million shares trading hands.
There were other tech losses in the market, as well, as investors awaited earnings report from Microsoft, SanDisk, Juniper Networks, and others. Apple’s new eBook competitor, Amazon, is also expected to announce earnings Thursday.
*In the interest of full disclosure, the author holds a small share in AAPL stock that was not an influence in the creation of this article.