Tech

Apple stock value largely unchanged after iPhone 5 announcement

Published Thursday, Sep 13 2012, 02:57 BST | By Kate Goodacre | 3 comments

Apple's stock value has remained largely unchanged after Wednesday's (September 12) iPhone 5 announcement.

The new handset was unveiled by CEO Tim Cook in San Francisco, along with updated versions of the iPod Nano and iPod Touch.

Apple unveils the iPhone 5, touted as the "thinnest smartphone in the world".

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Shares were up slightly following the start of the announcement, reaching $668 (£414) half an hour into the event. However, a fall then saw prices drop to $657 (£408) at the close of the event.

Apple shares were priced at $669 (£415) each by the time trading closed on Wednesday.

The Apple iPhone 5's key features include a larger 4-inch Retina display, ultrafast wireless technology, a faster processor, improved battery life and a redesigned connector dubbed 'Lightning'.

It will go on sale on Friday, September 21.

A revised version of iTunes was also showcased at Apple's event, along with new operating system iOS 6, which will launch for compatible devices on September 19.