Well what the hell were they expecting? The damn phone was SIX HUNDRED DOLLARS. Jeez people, everyone knows you buy new tech a few months after release, unless you like to pay a premium.
Apple stock dropped more than 5 percent after the price cut was announced Wednesday, closing at $136.76, down $7.40. In extended trading, the share price fell another $1.01.
Meanwhile, gadget enthusiasts who snapped up the ballyhooed iPhone before Wednesday are coping with a bitter aftertaste now that it is $200 cheaper within 10 weeks of its introduction.