iPhone Shares Drop After 4S Disappointment

Breaking News , Featured , Techno

Looks like we weren’t the only ones disappointed with the press event held by Apple today. Shareholders, just minutes after the event, pulled out on Apple stock. This may be a bad omen amid the already perceived decline of the company following the stepping down of former CEO and front-running icon Steve Jobs.
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Posted Tuesday, October 4, 2011 by

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iPhone Shares Drop After 4S Disappointment
Current CEO of Apple Inc. Tim Cook.

NEW YORK: Apple shares dropped more than four percent on Wall Street on Tuesday after the California gadget-maker unveiled an updated version of the iPhone but not a new model many analysts had been expecting.

Apple shares were down 4.93 percent at $356.14 shortly after the company took the wraps off the iPhone 4S at an event at its Cupertino, California, headquarters.

The more powerful iPhone features a speedier processor, a built-in “personal assistant” that responds to voice commands and a more powerful camera.

Many analysts and Apple fans had been expecting a next-generation iPhone 5.

The iPhone 4S will be available in the United States, Australia, Canada, France, Germany, Japan and Britain on October 14 with pre-orders commencing a week earlier.

In the United States, iPhone 4S prices will start at $199 for a 16-gigabyte model and top out at $399 for a model with 64 gigabytes of memory.

Via: Channel News Asia

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