Shares of tech giant Apple fell after the company unveiled its new iPhone 17 models and other products. Shares fell 1.3% in recent trading, UNN reports with reference to The Economist Times.
Details
Apple shares are currently trading on NASDAQ at around $237.31 per share, with a slight decrease of approximately 0.24% today, as Wall Street investors appeared to be disappointed by the widely publicized iPhone 17 presentation.
Shares traded between $235.55 and $238.78 during the session, with volume reaching 28 million shares. This is significantly below the daily average of 54 million.
Despite new Apple Watch and AirPods updates, Wall Street found nothing in the event to justify new buying momentum.
Apple built expectations with an event it called "Scary Fast," but the reality didn't live up to the hype. For shareholders who had seen the stock rise more than 35% from its 52-week low of $169.21, the bar for excitement was already set high.
Addition
Apple unveiled the iPhone 17, which is available in five colors and features the new A19 latest-generation processor.
In addition, Apple introduced new AirPods Pro 3 headphones, which feature a new "acoustic architecture" and simultaneous translation, meaning the headphones will be able to recognize human speech in real time. The headphones will go on sale on September 19 and will be available for $250.