Apple Shares Decline Over 1.75% on iPhone 15 Launch Day

Apple Shares Decline Over 1.75% on iPhone 15 Launch Day

VoM News Desk | September 12, 2023 | 07:14 PM IST | Breaking News | Follow on Google News

Apple Shares Decline Over 1.75% on iPhone 15 Launch Day. Image/Apple

Investors Monitor iPhone 15 Launch Event ‘Wonderlust’ at Apple’s Headquarters

Shares of Apple experienced a decline of over 1.75% on Tuesday as investors closely monitored the highly anticipated launch of the iPhone 15 at Apple’s flagship launch event, ‘Wonderlust,’ held at the company’s headquarters in Cupertino. The decline in shares was attributed to news that China’s Huawei Technologies had raised its second-half shipment target for its Mate 60 series smartphone by 20%, according to Reuters.

Key Highlights from iPhone 15 Launch Event

• Apple unveiled its latest iPhone 15 and iPhone 15 Plus at the annual event.
• The new iPhone models feature dynamic island features that were previously reserved for pro versions of iPhones.
• The iPhone 15 series includes models with 6.1-inch and 6.7-inch displays.
• These new iPhone models are constructed with 75% recycled aluminum and 100% recycled cobalt.
• The iPhone 15 is available in Pink, Yellow, Green, Blue, and Black color options.
• It boasts a 48-megapixel camera with features such as a 26mm focal strength, 100% Focus pixels, sensor-shift OIS, and more.
• Pricing for the iPhone 15 starts from $799 (₹66,215), while the iPhone 15 Plus starts from $899 (₹74,503).
• Over the past five days, Apple’s stock has fallen by more than 6%, although year-to-date, it is up more than 41% based on exchange data.

Market Performance and Stock Movement

At 2:14 GMT, shares of Apple were trading 1.73% lower at $176.25 apiece on the NASDAQ exchange composite index. The S&P 500 was down 0.25% at 4,476.45 points. The Nasdaq declined 0.64% to 13,828.41 points, while the Dow Jones Industrial Average was up 0.30% at 34,767.56 points. Tesla Inc was the most traded stock in the S&P 500 during the session, with $28.3 billion worth of shares exchanged.

VoM News Desk

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