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Apple shares fell as much as 1.7 percent on Tuesday, as investors tuned in to the iPhone 15 launch event.
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The new iPhone model is expected to have an updated camera, design and charging functionality.
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Apple shares have fallen more than 6.3% in the past five days amid regulatory action in Europe and China.
Shares of Apple It fell as much as 1.7% on Tuesday, as investors watch for the hotly anticipated iPhone 15 debut.
In the last five days, the stock has fallen more than 6%. It is more than 41% year to date. Apple ended Tuesday’s trading session at $176.30, down 1.71% on the day.
Apple’s keynote event in Cupertino, California starts at 1pm ET Open the iPhone 15One that sees significant changes in its camera technology and charging port. The event will also share updates on the Apple Watch and AirPods, among other announcements.
Despite the rumors of the day, Apple has faced significant headwinds in recent months, including declining smartphone sales in the US.
And just last week, the The European Commission has named Apple a “gatekeeper.”indicating high regulatory hurdles. Meanwhile, Beijing has banned government employees from using iPhones. The Wall Street Journal He reported.
Wall Street has been bullish on the technology sector. Goldman Sachs strategists emphasized in a note last week that the sector has since dominated the stock market. Apple became the largest company in the world Ten years ago.
“In this way, the technology sector can differ from others in terms of policy, for example banks, supermarkets or energy companies. Politicians often argue that the benefits (eg higher interest rates for savers or lower food and energy prices) are not passed on to consumers,” said the bank’s strategists. “This doesn’t make tech companies free from regulation, but it stems from the impact on privacy and data use or mental health rather than pricing.”
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