Apple Shares Fall After Announcing iPhones, Apple Pay, Apple Watch

Iphone macworldAP ImagesThe Apple iPhone at MacWorld Conference and Expo in San Francisco, Wednesday, Jan. 10, 2007.

Apple shares have turned negative after the company announced two new iPhones, a new Apple Pay payment system, and Apple Watch.

As of 3:15 ET, Apple shares were down 0.6%, after falling as much 2% after the event concluded.

Earlier on Tuesday, Apple shares were up more than 4.5%.

Apple shares have been volatile on Tuesday, as expected, surging in early trade, selling off after the announcement of two new iPhones, before making new highs above $US102.50 after announcing Apple Pay.

Apple announced that it has retail agreements for Apple Pay with Disney, Macy’s, Walgreens, Staples, Subway, McDonald’s, and Whole Foods.

Apple also has agreements for Apple Pay with credit card companies American Express, MasterCard, and Visa.

Apple just announced Apple Watch, and shares of the company came off their best levels following the announcement. Historically, shares have shown a tendency to climb in the period between a launch event and when the product hits stores.

Here’s a chart of Apple shares on Tuesday, and what happened to shares after the announcements.

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