Apple’s stock price saw a decline of more than 1% on Tuesday as the company introduced the iPhone 15 during its flagship launch event, known as ‘Wonderlust.’ The day concluded with Apple shares down by 1.71%, trading at $176.30 per share.

This drop in Apple’s share price coincided with a report indicating that China’s Huawei Technologies had increased its second-half shipment target for the Mate 60 series smartphone by 20%, as reported by the news agency Reuters.

Over the past five days, Apple’s stock price has experienced a decrease of more than 6%. Nevertheless, when examining the year-to-date performance, Apple shares have exhibited a strong rally, with a gain of 41%, according to exchange data.

The weakness in technology-related shares had a notable impact on the Nasdaq, as the tech-heavy index closed 1.04% lower at 13,773.62. The broader market indices also saw declines, with the S&P 500 slipping by 0.57% to finish the session at 4,461.91 points, while the Dow Jones Industrial Average posted a slight decrease of 0.05% to reach 34,645.99 points.

During its annual event, Apple unveiled its latest offerings, including the iPhone 15 and iPhone 15 Plus, featuring the dynamic island feature that was previously exclusive to the pro versions of iPhones. The event took place at Apple’s headquarters in Cupertino.

The new iPhone 15 series includes models with 6.1-inch and 6.7-inch displays. These brand-new iPhone versions are constructed using materials that are environmentally conscious, with 75% recycled aluminum and 100% recycled cobalt. The iPhone 15 is available in a range of vibrant colors, including Pink, Yellow, Green, Blue, and Black.

The standout feature in the iPhone 15’s camera is its 48-megapixel capability, along with attributes such as a 26mm focal length, 100% Focus pixels, and sensor-shift Optical Image Stabilization (OIS), among others. The starting price for the iPhone 15 is $799 (₹66,215), while the iPhone 15 Plus starts at $899 (₹74,503).

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