iFail? 'Watch' Apple Stock Sink After Global Presentation

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.

The stocks at their highest point during the event.

© Business Insider annotations of Yahoo Finance data

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.

As Cook began to describe everything about the Watch, stocks plummeted.

© Business Insider annotations of Yahoo Finance data

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:

— Anna Kendrick (@AnnaKendrick47) March 9, 2015

— Cult of Mac (@cultofmac) March 9, 2015

— shut up, mike (@shutupmikeginn) March 9, 2015

 

The Watch hits stores on April 24.