Consumer electronics giant Apple on Tuesday introduced its fall product lineup, including the iPhone 17 series smartphones. But the introduction proved to be a "sell the news" type event. Apple stock fell after the company's hour-plus webcast.
As usual for Apple product launches, most of the news leaked out ahead of the event.
The Cupertino, Calif.-based company showed off its iPhone 17 smartphones, including an ultrathin model called the iPhone Air.
For those keeping track, this is Apple's 19th-generation smartphone, having debuted its first handset in 2007.
In addition to new handsets, the company unveiled its latest Apple Watch smartwatches and AirPods wireless earbuds.
Apple stock dropped 1.5% to close at 234.35 on the stock market today.
Apple stock is in a 37-week consolidation pattern with a buy point of 260.10, according to IBD MarketSurge charts. Last week, it hit an early-entry buy point of 235.12, based on IBD analysis.
Apple's event follows product launches from Samsung and Alphabet's Google, which both introduced folding, big-screen handsets. Apple is rumored to be working on a folding iPhone for release late next year.
Meanwhile, Apple is facing the perception that it is lagging in the artificial intelligence megatrend.
What follows is live coverage of the company's product launch event.
2:12 p.m. ET
Apple Event Ends
Apple's fall product launch event lasted 72 minutes.
The standard iPhone 17 starts at $799. The iPhone Air starts at $999. The iPhone 17 Pro starts at $1,099, same as last year's model. And the Pro Max starts at $1,199. The new smartphones will be available for preorder this Friday and will be in stores beginning Sept. 19.
2:05 p.m. ET
IPhone 17 Pro Models
The introduction of the iPhone Air allowed Apple to further differentiate its Pro model smartphones: iPhone 17 Pro and Pro Max, Cook said.
The new Pro models have sturdier, redesigned cases and displays. They have a new thermal management system, including a "vapor chamber" to disperse heat.
Apple said the new handsets offer improved sustained performance over prior models. The Pro smartphones also have enhanced cameras, including three 48-megapixel fusion cameras on the back. Apple greatly improved the telephoto camera for much better zoom resolution.
In recent trades, Apple stock was down 0.8% to 236.06.
1:47 p.m. ET
Superthin, Light iPhone Air
Apple next introduced the ultrathin iPhone Air, which is 5.6 millimeters thin. It uses a titanium frame.
"IPhone Air is unlike anything you've experienced before," Cook said. The iPhone Air was made possible by advancements in Apple Silicon processors, he said. It runs on the new A19 Pro chip.
The iPhone Air comes in four colors. Plus, Apple has a new line of accessories for the superthin handset.
1:40 p.m. ET
IPhone 17 Debuts
The iPhone 17 will include a brighter display and a more powerful processor. The more capable chip, A19, will be able to run on-device AI applications, such as Visual Intelligence and live language translation.
Like the new smartwatches, the iPhone 17 promises a longer battery life.
Apple also boasted about the improved front and back cameras on the iPhone 17.
The iPhone 17 comes in five chassis colors.
1:31 p.m. ET
Apple Watch SE 3, Ultra 3
Plus, Apple rolled out a new low-cost smartwatch, Apple Watch SE 3, and a high-end version, Apple Watch Ultra 3.
Ultra 3 has a brighter screen and larger display with a faster refresh rate. It also has improved workout features. The new model includes satellite connectivity for communications and emergency SOS. It also has longer battery life.
The SE starts at $249. The base model Series 11 starts at $399. And the Ultra model starts at $799. All are available for preorder today and will be available Sept. 19.
1:24 p.m. ET
Apple Watch Series 11
Apple played a video of Apple Watch users talking about how the device saved their lives. Features shown included health alerts and cellular and satellite connectivity for emergencies.
The latest watches include new health tracking and alert features.
Apple Watch Series 11 can identify possible hypertension. Apple expects to notify over 1 million people with undiagnosed hypertension in the first year alone.
The new watches can help users track their sleep. Plus, they have improved battery life.
1:13 p.m. ET
New AirPods With Live Translation
Chief Executive Tim Cook kicked off the event by touting Apple's focus on design, including software and hardware. "Design is at the core of everything we do," he said.
First up, the company introduced new AirPods Pro wireless earbuds. The AirPods Pro 3 offer improved audio, including better active noise cancellation and a spatial audio experience.
Plus, the new AirPods include live language translation powered by Apple Intelligence. And it works with your iPhone so a user can provide translations of their responses on screen.
AirPods Pro 3 will be available on Sept. 19 for $249.
1 p.m. ET
It's Showtime
The livestream for Apple's fall product reveal has begun. Apple stock was last down 0.5% to 236.63.
12:30 p.m. ET
Apple Stock Shows Little Enthusiasm
Thirty minutes before the start of Apple's "Awe-Dropping" product launch, Apple stock shows little investor excitement.
Apple stock is down 0.8% to 235.98 in early afternoon trades on the stock market today. Trading volume also is well below average as investors display caution.
Follow Patrick Seitz on X at @IBD_PSeitz for more stories on consumer technology, software and semiconductor stocks.
