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iFail? 'Watch' Apple Stock Sink After Global Presentation

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iFail? 'Watch' Apple Stock Sink After Global Presentation
© AP Photo/ Eric Risberg
BUSINESS
01:19 10.03.2015(updated 05:42 10.03.2015)
121031
Shares tend to rise when new Apple products are announced, which makes what happened today after the tech giant unveiled its much-anticipated Apple Watch all the more notable.

Apple CEO Tim Cook unveiled the company’s new wearable, along with a smattering of other products, at Apple’s live event Monday.

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© BUSINESS INSIDER ANNOTATIONS OF YAHOO FINANCE DATA
The stocks at their highest point during the event.


The event started out strong. Cook discussed Apple’s new partnership with HBO, its ApplePay system, the gold MacBook Pro, and an even thinner, fanless MacBook.

But the day took a dive when the Apple Watch came up.

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© BUSINESS INSIDER ANNOTATIONS OF YAHOO FINANCE DATA
As Cook began to describe everything about the Watch, stocks plummeted.


As Cook described its features, such as Instagram and Uber compatibility, and costs, share price took a dive, from $129.50 to $127.17.

The device will cost between $349 and $1,099, with a high end gold version costing as much as $10,000.

And, of course, Apple watchers on social media chimed in:




Read more: iFail? 'Watch' Apple Stock Sink After Global Presentation / Sputnik International
 
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Apple is going nowhere, it's still the largest tech company in the world. As much as I despise Apple, they're going to be around for a long time.
 
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Too bad Steve Jobs is no longer with us, he was the spirit of Apple's innovation...
 
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