Apple unveiled its latest and greatest iPhone 12 series with 5G capabilities. Just as the iPhone launch event ended, Apple reportedly lost as much as 4% of its market value which is about $91 billion in stock market on Tuesday.
In the event, Apple showcased its lineup of new phone models namely iPhone 12, iPhone 12 mini, iPhone 12 Pro and iPhone 12 Pro Max. Also, alongside the smartphones, the company showcased a smaller version of its HomePod Mini home assistant.
This year’s phones were packed with some serious upgrades over last year in many of the aspects like photography, speed, and wireless charging. The negative sentiment towards the company came because of its decision to not include chargers or wired earphones in the boxes of the iPhones.
The new phones will also boast more durable screens, upgraded cameras, and a faster processor. Seeing the earlier trend of iPhone 11 being the best seller since its release Apple did a good job of making serious improvements for the iPhone 12 and 12 mini.
Shares traded at an intraday loss before the event but slid further after the event began at 1 PM ET.
Follow us on Instagram for daily news and updates.