Apple Unveils Foldable Duo Smartphone in First Event Under New CEO
AAPL sits 40% above its 52-week low of $225.95.
Summary
Apple introduced the foldable Duo smartphone at its September 9 event, the company's first product reveal since John Ternus took over as CEO. The event also included updates to the iPhone and iPod, marking the biggest change to Apple's smartphone line in years. Shares were sharply lower ahead of the event but pared most losses afterward, ending the session down 0.3%. This follows a period of significant volatility for Apple, including a 6% single-day drop in June and strong Q3 results in July. The foldable Duo represents a major new product category for Apple, though the market reaction was muted amid a broader three-day selloff driven by geopolitical tensions and rising oil prices.
At the time of this announcement, AAPL was trading at $315.83 on NASDAQ in the Technology sector, with a market capitalization of approximately $4.6T. The 52-week trading range was $225.95 to $344.57. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Reuters.