Apple AAPL Stock Update: Apple Stock Falls With Galaxy Note 4 Launch

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Apple Inc (NASDAQ AAPL) is expected to unveil the iPhone 6 and possibly other gadgets like the rumored iWatch at its planned event next week. The company’s stock has been climbing ahead of that unveiling—just as it has historically—but apparently investors are worrying because of what the company’s top competitor has just shown off.

Shares of Apple Inc (AAPL) fell as much as 3% in afternoon trading today. Samsung Electronics Co., Ltd showed off not one, but two new smartphones this morning. The Korean electronics giant unveiled the much-anticipated Galaxy Note 4 and a new member of the Galaxy family: the Galaxy Edge. But those weren’t all Samsung had to show off. The company also unveiled its new accessory, the Samsung Gear.

There weren’t many surprises in the Note 4 unveiling, although the Galaxy Edge was a bit of a surprise. Its curved screen makes it quite a bit different than the other smartphones on the market. The screen sort of wraps around the edges and provides an additional menu bar for ease of use, Samsung hopes.

Apple Inc (NASDAQ AAPL): Unexpected Fall?

But perhaps what scares investors the most is Samsung’s new accessory. The company teamed up with Oculus, the company bought by Facebook Inc (NASDAQ FB) this year. For the very first time, a Samsung device will have virtual reality. And of course the Gear works exclusively with the brand new Galaxy Note 4 smartphone—uh oh, Apple.

According to MarketWatch, the Gear VR device turns the Galaxy Note 4 into a virtual reality device. The accessory uses technology from the Oculus Rift virtual reality headset, and it adapts the phablet for mobile gaming. The phone basically becomes a sort of “virtual reality ‘brain.’” Just fit the Note 4 into the device, and instant virtual reality headset.

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Apple Inc financial news (NASDAQ AAPL)

So does Apple (NASDAQ AAPL) stand a chance against these new gadgets? Investors are apparently starting to wonder. The company is expected to finally get into the larger smartphone game with the iPhone 6. Two iPhone sizes are expected this year, one with a 4.7-inch display and another with a 5.5-inch display.

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