The latest launch of the new version of the Apple Watch, the Apple Watch Series 3 with LTE unfortunately has a few glitches. Many iPhone users have complained about reception and wireless connectivity, and there have even been some public issues with service, but this is a new one. The LTE connectivity on the new watch which would let users make calls directly from their new wrist gadget doesn't seem to work very well.
Tech review blogs, and many in the media that got their hands on it early have been quite candid about the bug and that has weighed on shares of the stock. The stock fell almost 2% on Thursday and about the same on Wednesday despite the company saying they are working on a fix. The problem is that this has caused people to start finding reasons this watch isn't worth it. Numerous tech blogs and analysts have now started to focus on inconsistent wireless and the short battery life. The battery life is nothing new, but with only an hour of talk time it's not great.
Still, the cool factor seems to still be in place and for now Apple has said that they should mostly be able to fix these issues over the air, but some may need to visit stores for the ultimate resolution to the problem.
Shares of Apple (NASDAQ: AAPL) have had a great year, up over 37% prior to this debacle. With those kind of gains you can imagine that the long term investors can afford to wait and see how this plays out before making any position changes. Still, this is not typical of the, all-impressive Apple that wow's their cult like customer base. Wall Street seems to think this will all resolve as there hasn't been any major downgrades or price target adjustments.