Finance Finance News Apple shares tumble post-launch

Apple shares tumble post-launch

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Apple share prices have dropped to a one-month low just hours after the unveiling of the new iPhone and Apple Watch overnight, despite surging during the announcement.

The shares peaked at US $102.69 following the unveiling of the Apple Watch, but had fallen to US $97.99 two hours later.

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This is the lowest price the shares have been since August 15, when they sat at US $97.98.

Apple’s share price during today’s announcement. Source: Google

Analysis by Forbes Magazine shows the company’s stock traded higher on the day of the last two iPhone announcements, but this was not the case with the release of iPhone 4 and iPhone 3 models.

The company continues to hold the lion’s share of the US smartphone market, however Samsung is now the market leader in the global smartphone market.

The value of Apple’s shares have grown almost 100 per cent in the past 14 years.

In December 2000, the cost of a single Apple share was just US $2.01.

Apple’s share price over the past month. Source: Google