Apple Stock Down 3% After iPhone Announcement

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Image credit: Cult of Mac
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Looks like Wall Street wasn’t impressed with Apple’s iPhone 5s and iPhone 5c launches today, as AAPL stock fell nearly 3%, down 14.17 points. The stock could rebound of course, as there is some time left in the day. Strangely, Apple stock traditionally goes up when there is an iPhone announcement.

Is it the iPhone’s $549 price point or perhaps Wall Street doesn’t like the new colours?

Apple introduced the new generation iPhone 5s and the budget iPhone 5c at a special event in Cupertino earlier today. Apple also announced the coming of iOS 7 on September 18. The iPhone 5c is available for pre-order from September 10. Both iPhones are available in Tier 1, including the US, and for the first time, China, from September 20. 100 more countries to follow.

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Image credit: Apple

The new iPhone 5S is available for $199 for the 16GB, $299 for 32GB and $399 for 64GB (on contract). Apple is offering new cases in multiple colours for $39 apiece, including a special (RED) version. The iPhone 5C will retail at $99 for 16GB and $199 for 32GB (on contract).

Source: Cult of Mac

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