Apple launched not one or two, but three new iPhones at its highly anticipated launch event on Tuesday to mark ten years since it introduced the first iPhone in 2007.
The most cutting-edge iteration of Apple's most popular product, called the iPhone X, comes with a 5.8-inch OLED display, but lacks the company's iconic home button. Two other models of the iPhone, the iPhone 8 and iPhone 8 Plus, as well as a new Apple Watch and 4K Apple TV were also introduced on Tuesday.
Apple stock closed down 0.4 percent on Tuesday after investors were disappointed the tech giant would only start taking orders on the iPhone X in October. The phone will be launched in November.
Apple stock has made significant moves following iPhone releases in the past, with shares losing 1.5 percent in the 60 days after the release of the iPhone 7 and iPhone 7 Plus in September of 2016, according to Kensho data.