Apple stock rallies then dips after iPhone 6, Watch unveiled

The new Apple Watch is displayed during an Apple special event. (AFP)

Apple’s stock finished the day on a low after the company’s big event on Tuesday afternoon, in which it unveiled the iPhone 6, the iPhone 6 Plus, a mobile wallet service called Apple Pay and an Apple Watch.

At first, Apple shares rallied almost 5% as the products were announced, but by the final hour of trading “those gains evaporated,” according to CNN Money.

“Apple's stock has often fallen on the day of new product launches. And tech enthusiasts and investors were all expecting two new larger versions of the iPhone, some sort of mobile payment product and Apple's first wearable device,” the report stated.

Last Update: Wednesday, 20 May 2020 KSA 09:42 - GMT 06:42