Not only was the news good for Apple. But the release of the iPhone 5 was also great news for social networking giant Facebook.
Facebook shares climbed by 8.9% yesterday as a result of Apple unveiling their latest gadget, the iPhone 5.
Apple announced that their latest toy will have built-in application for Facebook that features voice-activated posts and the ability to share photos.
Before Wednesday’s announcement, Facebook stocks have crashed by 49% since its initial public offering last May 17.
After the iPhone 5 announcement, the social networking giant’s stocks rose by 7.6% to end the day at $20.91.
Facebook has been battling weak stock market support since the much anticipated IPO. Before the company went public, everybody was going berserk as to what this means to Wall Street.
But after all the initial fuzz and the hype has died down, analysts confirmed that Facebook’s venture to being public wasn’t good for the company.
This development is a good sign that Facebook might bounce back from their lowly start. If not, then Facebook might need to keep their fingers crossed that Apple releases a new iPhone every couple of months.
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