Fund managers are maintaining a positive outlook on tech giant Apple despite a mixed reception to yesterday's unveiling of the iPhone 7, which wiped $15.4bn off the company's market value in a single day.
Immediately following yesterday's announcement of the iPhone 7, iPhone 7 Plus and the second generation of the Apple Watch, Apple shares fell by nearly 3%. Investor dissatisfaction stemmed from Apple's decision not to release the first-weekend sales figures of the iPhone 7 following its launch, a long tradition that has historically pushed up the stock's price. Apple said initial sales are driven by supply rather than demand, and attempted to reassure investors by saying the iPhone 7 "will sell out" on its release. However, some shareholders remain concerned that a recent slowdown ...
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