After months of patiently waiting, technology geeks finally got all the details surrounding the new Apple Inc. (NASDAQ:AAPL) iPhone 7 model.
Many of the major changes were identical to the ones leaked by leading tech news outlets weeks ago, including a brand-new operating system, a new water and dust-resistant enclosure case, dual cameras, a new home button, and, to the chagrin of many, no headphone jack. The new case was just too thin to include a 3.5mm headphone back.
The new iPhone 7 will come in Jet Black, standard black, gold, silver, and rose gold colors. It officially goes on sale on September 16.
The company also announced changes to the Apple Watch, including making it waterproof up to 50 meters. It also has a new built-in GPS, a brighter screen, and will allow users to play Pokemon Go. It won’t, however, have a battery that can last longer than a day.
What does this all mean for investors? Sales of the new model of phone will likely be brisk as many Apple fans buy up the latest model. But with each new product cycle Apple faces the problem of trying to amaze when technological features just aren’t getting much better.
As for the share price, Apple shares have traditionally fell the day of product announcements before rebounding as investors start to see the long lines of customers waiting for the new iPhone. Shares are reacting in much the same way today, declining $0.13 each or 0.12% in afternoon trading.
