Investors unfriend Facebook and AppleJune 26, 2013: 1:30 PM ET
U.S. stocks may be on the rise but two former tech darlings are missing out on the move up. Shares of Apple and Facebook were firmly in the red Wednesday as the the Dow jumped more than 100 points for a second straight day.
Both companies have been struggling to impress investors this year amid a lack of new and innovative products.
The disappointing downward moves in the stocks gave people on StockTwits plenty to chatter about.
Facebook tried to push the envelope last week when it unveiled Video on Instagram, a service tied to the popular photo app that Facebook bought last year for $1 billion.
But that wasn't the type of innovation investors have been looking for, and the stock remains stuck in a rut.
The complaints were even harsher against Apple.
Oh, the irony! And of course it's not just today. Netflix is the best performing stock in the S&P 500 this year, with shares up 130% while Apple shares have declined about 25%.
Ouch. But depending on where you bought the stock, maybe it's helped more than it's hurt? After all, if you take a step back, you'll see that Apple shares have more than quadrupled since the bull market began in March 2009, while the S&P 500 has only doubled.
Still for future gains, most investors agree that Apple needs to come up with something soon, and not just a fun advertisement.
Some even wondered if Apple CEO Tim Cook is holding the company back, though others came to Steve Jobs' successor's defense.
Others came to Steve Jobs' successor's defense.
A new leader may or may not be the answer, but it's crystal clear that new ideas and time are of the essence for Apple.