Apple stock plummets following the much-anticipated launch of the iPhone 15 series handsets.
The consumer electronics giant Apple Inc. (NASDAQ: AAPL) introduced its iPhone 15 smartphones Tuesday, with the high-end Pro models stealing the spotlight with new features. However, the market reaction has been less than favorable.
The iPhone 15 lineup includes four models: two standard and two high-end “Pro” versions. These devices appeared to offer only incremental upgrades over the previous iPhone 14 lineup. Preorders for these devices are set to begin this Friday, with the official release date slated for September 22.
The standard models — the iPhone 15 and iPhone 15 Plus — feature upgraded cameras and processors, catering to photography and tech enthusiasts alike. Prices for these models start at $799 and $899, respectively.
The real showstoppers, however, are the premium iPhone 15 Pro and Pro Max, as these models offer notable improvements, including a new titanium frame with slimmer display borders and a new “action button” that replaces the ring-silent toggle switch. The button can activate various apps, including the camera and voice memos.
Furthermore, the Pro models feature the cutting-edge A17 Pro processor, manufactured at a 3-nanometer scale, promising lightning-fast performance and improved energy efficiency.
Photography enthusiasts will rejoice as the Pro Max variant of the iPhone 15 boasts a significant upgrade with a 5-times optical zoom using a tetraprism lens. This marks a notable improvement over last year’s model, which had a 3-times optical zoom. However, these impressive features come at a cost, with the iPhone 15 Pro starting at $999 and the Pro Max at $1,199. The latter also sees a $100 price hike compared to its predecessor, albeit with increased storage capacity.
In an unexpected twist, Apple Inc. (NASDAQ: AAPL) has shifted to USB-C cables, replacing its proprietary Lightning cable. This transition promises faster charging and data transfer speeds.
Apple is also introducing a satellite communications service named “Roadside Assistance Via Satellite.” This service aims to assist users when their vehicles break down in areas lacking cellular network coverage. Apple has partnered with AAA, the nation’s largest roadside assistance provider in the U.S., to offer this new service. It complements the Emergency SOS satellite service introduced a year ago, with both services provided free of charge for two years to iPhone 15 buyers.
The iPhone 15 launch event received an underwhelming response. Apple stock declined 1.7% to close at $176.30 on Tuesday. This lackluster reaction can be attributed to the fact that many crucial details about the iPhone 15 had already been leaked before the official unveiling, causing the market’s subdued response.
Apple stock has increased 35.69% in value this year.