Apple Shares Fall as iPhone 18 Pro Launch Hikes Prices

Apple's latest product event saw the unveiling of several new devices and features, including an updated Siri model and new AirPods and Apple Watch models. However, investors were largely unmoved by the announcements, with Apple shares down 1.53% at the time of writing.

The iPhone 18 Pro lineup comes with a higher price tag than its predecessor, starting at $1,199 for 256GB of storage. This represents a $100 increase from the corresponding iPhone 17 Pro models. The new iPhone 18 Pro models are powered by Apple's A20 Pro chip and offer improved battery life, with up to 24 hours on a single charge.

The event marked the first iPhone launch under new CEO John Ternus, who took over from Tim Cook earlier this month. Ternus handed over the spotlight to Cook briefly before introducing the new products. The company also highlighted the upgraded Siri AI, which can now perform actions within apps that users already use.

The Apple Watch Series 12 and Apple Watch Ultra 4 were also announced, expanding the company's latest hardware lineup beyond the iPhone and AirPods. The new AirPods offer longer battery life and active noise cancellation at a price of $129 or $149 for wireless charging.