'Never underestimate Apple': Managers continue to back tech giant despite late iPhone X launch

iPhone X slated for launch on November 3

Fund managers have spoken out in favour of tech giant Apple despite the announcement it would be launching its much-anticipated iPhone X later than expected, which caused a 2.5% fall in intraday trading on Tuesday.

While Tim Cook, CEO of Apple, said this model would be the "biggest leap" forward since the original iPhone, investors paid more attention to the launch date, which was set for November 3 in an unprecedented move for the company who normally set the release date in September. The CEO unveiled three new models that will make up the iPhone X generation. The £999 top tier model will not have the famous home button, which has been a part of the iPhone since launching in 2007, while facial recognition, sharper displays and wireless charging were also among the key features unveiled. Shares...