Apple fights to hold $2T value as new watch, iPad announced

Apple showcases enhanced watches with new price points

Apple Inc. shares slipped Tuesday after the company’s virtual event unveiled updates to its Apple Watch and iPad products and rolled out its long-awaited services bundle.

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Shares were trading up 2.38% ahead of the event’s start. Post-announcement, shares closed at  $115.54 right pushing the company below the $2 trillion market capitalization.

TickerSecurityLastChangeChange %
AAPLAPPLE INC.107.12-4.69-4.19%

CEO Tim Cook, who presided over the event, touted a suite of updates to products, excluding the iPhone.

Tim Cook, chief executive officer of Apple Inc., speaks during a virtual product launch seen on a laptop computer in Tiskilwa, Illinois, U.S., on Tuesday, Sept. 15, 2020. Apple Inc. kicks off a broad slate of new products, with upgrades to two of its

Apple Watch:

The new Apple Watch 6, which will allow users to monitor their blood oxygen levels, starts at $399. The company also announced the Apple Watch SE, which will be priced at $279. Neither of the new models come with a charger, which will need to be purchased separately, and both are available starting Sept. 17.

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IPad:

Apple also announced an update to its entry-level iPad 8, giving users a faster chip and the option for a carrying case.

Apple One Services:

The company said its Apple One services bundle, which includes Apple Music, Apple TV+, Apple Arcade, and iCloud storage will cost $14.95 per month. The family option is priced at $19.5 per month.

A Premier package that includes News+ and Fitness+ features will cost $29.95 per month.

Apple shares, which split 4-for-1 on Aug. 31, were up 57% this year through Monday while the S&P 500 was up 4.73%.

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