Apple shares came under pressure on Wednesday after the company unveiled its latest iPhone lineup which includes its first foldable smartphone.
This is as investors assessed whether the new products can provide enough momentum to justify the company’s elevated valuation.
Apple shares opened at $315.50 on September 9, compared with Tuesday’s closing price of $316.22. The stock fell as low as $310.97, representing a decline of $5.25, or about 1.66 percent, from the previous close, before recovering some of the losses.
The company presented the iPhone 18 Pro and Pro Max. Its first foldable iPhone, dubbed iPhone Duo, as well as new AirPods and Apple Watch models.
The shares later recovered some of the losses and were trading around $315.11, according to market data.
