iPhone 6 bending, U2's 'Songs of Innocence', iOS 8 glitches and $20bn wiped off its stock – can this launch get any worse for Apple?

Stock fell close to 4% on Thursday dragging major indexes down

Maria Tadeo
Friday 26 September 2014 15:39
Comments
An Apple iPhone 6 stands on display at the Apple Store
An Apple iPhone 6 stands on display at the Apple Store

Apple shares fell more than 3 per cent on Thursday, wiping close to $23bn off its stock market value, as investors reacted to the "bendgate" and iOS 8 bug double whammy.

Yesterday, Apple made a rare apology over the iOS 8.0.1 software glitch, launching a second update to restore full functionality to the tens of thousands of affected phones, while playing down concerns about the "bendy" iPhone 6 Plus. But the statement failed to appease investors.

The stock closed at $97.87- below the psychological barrier of $100- after hitting a new all-time high of $103.74 earlier this month in anticipation of what some described as "Apple's next super cycle" following the launch of the iPhone 6 Plus and the Apple Watch.

On Wednesday, Apple found itself in hot water after users who installed the 8.0.1 update reported they were unable to make calls and encountered problems using Touch ID.

An Apple spokeswoman added: "With normal use, a bend in iPhone is extremely rare and through our first six days of sale, a total of nine customers have contacted Apple with a bent iPhone 6 Plus."

The company has also been hit by two major PR disasters, including heightened security concerns about its iCloud after a series of nude celebrity photographs appeared online, and the U2 free album debacle, which forced the company to introduce a removal tool for users who- as it turns out- do not like Bono.

Register for free to continue reading

Registration is a free and easy way to support our truly independent journalism

By registering, you will also enjoy limited access to Premium articles, exclusive newsletters, commenting, and virtual events with our leading journalists

Please enter a valid email
Please enter a valid email
Must be at least 6 characters, include an upper and lower case character and a number
Must be at least 6 characters, include an upper and lower case character and a number
Must be at least 6 characters, include an upper and lower case character and a number
Please enter your first name
Special characters aren’t allowed
Please enter a name between 1 and 40 characters
Please enter your last name
Special characters aren’t allowed
Please enter a name between 1 and 40 characters
You must be over 18 years old to register
You must be over 18 years old to register
Opt-out-policy
You can opt-out at any time by signing in to your account to manage your preferences. Each email has a link to unsubscribe.

By clicking ‘Create my account’ you confirm that your data has been entered correctly and you have read and agree to our Terms of use, Cookie policy and Privacy notice.

This site is protected by reCAPTCHA and the Google Privacy policy and Terms of service apply.

Already have an account? sign in

By clicking ‘Register’ you confirm that your data has been entered correctly and you have read and agree to our Terms of use, Cookie policy and Privacy notice.

This site is protected by reCAPTCHA and the Google Privacy policy and Terms of service apply.

Register for free to continue reading

Registration is a free and easy way to support our truly independent journalism

By registering, you will also enjoy limited access to Premium articles, exclusive newsletters, commenting, and virtual events with our leading journalists

Already have an account? sign in

By clicking ‘Register’ you confirm that your data has been entered correctly and you have read and agree to our Terms of use, Cookie policy and Privacy notice.

This site is protected by reCAPTCHA and the Google Privacy policy and Terms of service apply.

Join our new commenting forum

Join thought-provoking conversations, follow other Independent readers and see their replies

Comments

Thank you for registering

Please refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in