Apple stock down 5 percent after iPhone event

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

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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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