Apple shares fall to $234 mark even as iPhone maker keeps next-gen smartphone rates largely steady

Apple shares faced selling pressure on Tuesday, September 9, as investors weighed news announcements from the second most valuable American firm’s “Awe Dropping” event. The stock seesawed in a range of $5.4 — between 233.4 and 238.8 — before settling at $234.4 apiece for the day, down 1.5 per cent from its previous close. Selling in Apple shares occurred even as the technology giant largely kept its prices steady while doubling the basic storage capacity to 256 GB. Its next-generation iPhone range starts at $799 while the iPhone 16e is priced at $599. 

Once again, Apple shares kept at least half their trend alive, but closing within around 1 per cent of the previous close on the iPhone launch day. Typically, the Apple stock stsaged gradual recovery in the weeks following the big day announcements. 

The Apple scrip underperformed each of the Dow, the S&P 500 and the tech stocks-heavy Nasdaq Composite, which rose 0.3-0.4 per cent for the day. 

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