Here's how Apple's iPhone X event is impacting other stocks – Business Insider

This post was originally published on this site

iPhone XApple

Apple revealed, among other things, its iPhone X on Tuesday.

In a presentation that lasted nearly two hours, the company announced three new iPhones, a set top box, a watch and other company initiatives. 

Apple’s stock is down about 2.5% since the event, but other companies are moving on the news too. 

Some of those companies were mentioned by name, like Snap or Dolby, while others are expected to be suppliers for the new iPhone.

With a market cap of around $833.87 billion, Apple is a company with considerable clout, and one mention in its biggest event of the year can make waves for smaller companies.

Read below to find out which companies have moved, and how much they’ve moved since the beginning on Tuesday. 

View As: One Page Slides

Apple (AAPL)

Stock move: -2.59%

Where it appeared: UBS said Apple usually moves up or down about a couple percent the day of its announcement event. It then rises slightly from the event to the launch, which for the iPhone X comes out in late October, a bit later than usual. The stock usually then slips for a couple weeks post-launch before gaining into the earnings release, according to UBS.

Click here to get a live price for the company.

Dolby Labs (DLB)

Stock move: +12.73%

Where it appeared: Dolby was mentioned when Apple began talking about its new Apple TV.

“At the heart of Apple TV4k are two key technologies that are driving this next evolution of the TV experience,” Tim Cook said on stage. One of those technologies is HDR made possible by Dolby Vision, which Apple called “the best HDR experience.”

Click here to get a live price for the company.

Snap (SNAP)

Stock move: -0.19%

Where it appeared: Snap was mentioned when Apple was showing off its facial recognition technology.

When demonstrating the company’s new facial unlocking and tracking feature, an executive said “the tracking is just unreal. Look at the detail over the eyes… the quality of the tracking. It’s just stunning.”

While Snap is down the day after the event, the company did spike about 2% higher when it was mentioned.

Click here to get a live price for the company.

Samsung

Stock move: -1.19%

Where it appeared: Samsung is the single provider of Apple’s new OLED screen, which is the flagship feature of its new, top of the line iPhone X.

“It is all screen, it is beautiful to look at… The display fits edge-to-edge, top-to-bottom. The level of quality, responsiveness and efficiency is really quite a breakthrough in mobile displays,” Apple said on stage.

Click here to get a live price for the company.

Western Digital (WDC)

Stock move: -4.17%

Where it appeared: Western Digital is believed by analysts to be one of Apple’s suppliers for its flash memory. The new phones announced on Tuesday all have an increased base capacity, but Western Digital is fighting several other memory suppliers for a piece of the new iPhones.

Click here to get a live price for the company.

SK Hynix

Stock move: +0.13%

Where it appeared: SK Hynix, like Western Digital, is reportedly another of Apple’s suppliers for flash memory. Like Western Digital, it has to compete for its share of the new iPhones’ storage. 

Click here to get a live price for the company.

Foxconn

Foxconn

FILE PHOTO: Employees work inside a Foxconn factory in the township of Longhua in the southern Guangdong provinceThomson Reuters

Stock move: -1.3%

Where it appeared: Foxconn is perhaps the most famous of Apple’s manufacturers. The company recently inked a deal to begin operating a new factory in the US, though they won’t be making Apple products there. Foxconn was not specifically mentioned by Apple during the event.

Imagination Technologies

Stock move: -7.8%

Where it appeared: Imagination Technologies makes graphics cards for the iPhone and used to supply the company with its primary graphics chips. The company put itself up for sale after Apple announced it would be producing its own chips, and on Tuesday, Apple finally revealed their new chips to the world, definitively killing Imagination’s chances at a future Apple partnership on the iPhone.

“This is a three core design, it’s 30% faster than the graphics in the [previous generation.] The GPU is designed to accelerate 3D apps and games… and the GPU also is incredible for machine learning apps,” Apple said of their new A11 Bionic chip.