iPhone 16 Series: Apple Shares Receive Lukewarm Response At Wall Street After Mega Event

The mega Apple Event held in Cupertino, California, has become a major part of the tech fabric of the world. In the most recent edition of the event held on September 9, the company launched its latest iPhone, the iPhone 16 series.

In addition, it also released its latest rendition of its other popular inventions, including the Apple Watch and the AirPods.

Apple Shares Reluctantly in Green

Given the magnitude, much was expected from the company's stock performance.

Apple shares, however, did not live up to those expectations. The company shares closed for trade with a lukewarm response.

Apple saw an increase of under 1 per cent. The company shares gained a cumulative of 0.041 per cent or USD 0.090. This took the company shares marginally above to USD 220.91 per share.

The latest launch was deemed to be ambitious, as it was for the first time that the company launched an iPhone with Artificial intelligence enabled in them. The iPhone 16 series will be embedded with the company's flagship Apple Intelligence.

The newly launched phone series consists of the iPhone 16, the iPhone 16 Plus, the iPhone 16 Pro and the high-end iPhone 16 Pro Max. Here the iPhone 16 Pro Max will be available at the starting price of USD 999.

Apple's Concerns

This launch comes at a crucial time for the company, as it has been losing sheen in the smartphone market, having lost the position of one of the leading smartphone makers to Samsung.

In addition, the ever-increasing stiff competition with the advanced Chinese brands, along with other Android-based mobile phones, has added to Apple's woes.

In addition, like many tech giants, Apple has also taken a plunge into the AI bandwagon, emptying its pockets into it. With Apple Intelligence and other AI-related avenues at play, it becomes crucial for the Cupertino company to make the investments work, and see them pay off in due time.