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iFail? 'Watch' Apple Stock Sink After Global Presentation

© AP Photo / Eric RisbergEvent attendees get a look at varieties of the new Apple Watch on display in the demo room after an Apple event on Monday, March 9, 2015, in San Francisco.
Event attendees get a look at varieties of the new Apple Watch on display in the demo room after an Apple event on Monday, March 9, 2015, in San Francisco. - Sputnik International
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Shares tend to rise when new Apple products are announced, which makes what happened today after the tech giant unveiled its much-anticipated Apple Watch all the more notable.

Apple CEO Tim Cook unveiled the company’s new wearable, along with a smattering of other products, at Apple’s live event Monday.

© Business Insider annotations of Yahoo Finance dataThe stocks at their highest point during the event.
The stocks at their highest point during the event.  - Sputnik International
The stocks at their highest point during the event.

The event started out strong. Cook discussed Apple’s new partnership with HBO, its ApplePay system, the gold MacBook Pro, and an even thinner, fanless MacBook.

But the day took a dive when the Apple Watch came up.

© Business Insider annotations of Yahoo Finance dataAs Cook began to describe everything about the Watch, stocks plummeted.
As Cook began to describe everything about the Watch, stocks plummeted.  - Sputnik International
As Cook began to describe everything about the Watch, stocks plummeted.

As Cook described its features, such as Instagram and Uber compatibility, and costs, share price took a dive, from $129.50  to $127.17.

The device will cost between $349 and $1,099, with a high end gold version costing as much as $10,000. 

And, of course, Apple watchers on social media chimed in:

The Watch hits stores on April 24.

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