Apple Retreats From Record High After Unveiling $3,499 Headset
- IPhone maker hits record intraday high at start of conference
- Shares drop to day’s low after headset, launch date announced
Apple stock has risen consistently throughout 2023.
Photographer: SeongJoon Cho/BloombergThis article is for subscribers only.
Apple Inc. closed lower Monday, reversing gains that sent shares to an all-time high earlier in the day, after investors balked at the steep price of its newly-launched Vision Pro mixed-reality headset.
Shares of the iPhone maker slipped 0.8% to close at $179.58 per share on Monday. The stock had risen as much as 2.2% to a record high at the kickoff to its annual Worldwide Developers Conference. But that rally proved short-lived, with the shares gradually paring gains into the afternoon session before abruptly turning lower, falling to session lows after Apple announced the headset would come early next year, carrying a $3,499 price tag.