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Fans of Apple (NASDAQ:AAPL) stock are likely licking their lips ahead of the start of iPhone 15 preorders, set for Sept. 15. Indeed, tech fans are eagerly awaiting the opportunity to reserve Apple’s latest flagship smartphone following the company’s new product keynote yesterday, Sept. 12.
So, what do you need to know about Apple’s newest member of the iPhone family?
Well, as per yesterday’s reveal, the iPhone 15, iPhone 15 Plus, and iPhone 15 Pro boast a handful of new features over their predecessors. This includes a long-hinted USB-C port in replacement of its proprietary Lightning connection. The new phones also feature a color-infused glass black with a contoured aluminum bezel, a new processor and significant camera upgrades.
The base-model iPhone 15 and iPhone 15 Plus will be available in pink, yellow, green, blue and black. Meanwhile, the iPhone 15 Pro will be available in a slew of new titanium shades, including black titanium, white titanium, blue titanium, and natural titanium.
AAPL Stock Sinks Despite iPhone 15 Reveal
This all begs the question: What does the new iPhone reveal mean for AAPL stock?
Well, going by stock price, not too much. AAPL actually slipped following the iPhone 15 reveal and is in the red a little less than 1% at the time of writing. However, that likely has little to do with the new iPhone itself.
Apple has shed more than 7% of its value in the past five trading days on reports that China will put limits on the use of foreign-branded mobile devices, including iPhones, in some government agencies.
China remains one of Apple’s single most important markets, accounting for nearly 20% of its sales in the first nine months of its fiscal 2023. As such, the news has proven a major bearish indicator for the tech giant, even overshadowing its new phone launch.
On the date of publication, Shrey Dua did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.