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Apple stock down 5 percent after iPhone event

Shares of technology giant fall the day after company announces iPhone 5C and iPhone 5S.


Apple's major iPhone announcements yesterday did not win over investors.

Image credit: CNET
Image credit: CNET

Apple shares are down more than 5 percent today, less than 24 hours after the technology giant announced the iPhone 5C and iPhone 5S during a media event at the company's headquarters.

After opening today at $467.01, shares are currently trading down 5.8 percent to $465.97.

The $99 iPhone 5C and $199 iPhone 5S will launch on September 20. The iPhone 5S sports an industry-first 64-bit A7 processor, as well as a fingerprint scanner and an updated camera.

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