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IPHONE 12 LAUNCH: EXPERIENCING A SINGLE-DAY PLUNGE IN MARKET CAP, APPLE SUFFERS LOSSES OF NEARLY $180 BILLION

 ~ ISHITA CHABBRA


As Apple unveiled its latest series of iPhones, the Cupertino tech giant took a giant tumble on the market capitalisation. 

The new line of phones was unveiled at the virtual Apple Event in California on 13th october , where CEO Tim Cook ushered in 'the next generation' for the brand.


The Apple iPhone launch event followed the standard, worn out thought of going on line and was recorded from the Apple Park. The new 2020 iPhone 12 arrangement comprises of 4 iPhones this time - the iPhone 12, the iPhone 12 Mini, the iPhone 12 Pro, and the iPhone 12 Pro Max - changing the number of iPhones per year henceforth. The consideration of 5G marks the essential fundamental jump forward in iPhone's cellular technology.Also, along the cell phones, the business exhibited a more modest model of its HomePod Mini home assistant.

But while the folk at Apple were enjoying the 'huge moment', as they introduced not only the new devices, but also other exciting features like 5G for iPhone, the stock market wasn't looking quite so happy.


Though the smartphones displayed some serious upgrades in certain aspects like photography, the reaction to the launch was lacklustre in most parts. Majority of this was based on the company’s decision to not include chargers or wired headphones in the boxes of the new iPhones going forward.

Moreover , when there is specific launch date the stock usually rises prior to the official date just like apple which went up sixteen to eighteen percent prior to launch event and on the actual event there is a lot of sell off. Thats what most people do when actual event gets over they sell their shares and get the profit. 

The announcement was also overshadowed slightly by quips online about the new iPhone 12 bearing an uncanny resemblance to the iPhone 5, thanks to its curved frame.

According to a record through Markets Insider, stocks traded 'at an intraday loss' simply earlier than the occasion, however 'slid further' after the huge reveal - with $eighty one billion (£62bn) wiped from Apple's marketplace value. The inventory recovered a few losses and closed down 2.7 percent.

The drop was stark enough to judge the reaction of the market to the new range of iPhones. While it is expected that the new iPhone models will serve as a serious upgrade to the predecessors, both in terms of design and performance, it is true that people have been left wanting for more.



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