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Apple volatile as it unveils iPhone 8 and iPhone X

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Apple volatile as it unveils iPhone 8 and iPhone X.

In what had been billed as the biggest product launch so far this year, Apple unveiled it’s new iPhone 8 and iPhone X this afternoon at the brand new Steve Jobs Theatre in Cupertino, California.

The iPhone is critical to Apple’s bottom line, and the much hyped and watched Apple keynote event today delivered traders some volatility to work with. Apple typically rallies into product launches, which we again saw today. Once news of the phone was released, traders dumped the stock all the way from $164 to $159, before it was bought up to close just below $161.

Analyst’s had the night to pick over the phones features, and will no doubt have something to say about it today. Some criticism has been drawn from the $1000 price tag for the X, but premium pricing is a strategy that’s worked well for Apple in the past and is likely to continue doing so.

Expect more volume and volatility today.

 

 

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