Apple slides despite announcing a slew of new products

source
Markets Insider

  • Apple fell more than 3% Tuesday despite the company announcing a new iPad for education.
  • The selling came as the broader market got whacked.

Shares of Apple fell more than 3% in trading Tuesday despite the company announcing a slew of new products geared towards education.

The tech giant unveiled a new, smaller iPad that is aimed at teachers and students, which will support Apple Pencil and have upgraded Apple software like Pages and Keynote. The new device costs $329 for consumers and $299 for schools, much less than the current iPad lineup, and will begin shipping this week.

The event featured hoards of matching Apple employees, dressed like students and lined up in the hallways, as the company showed off the new devices to journalists.

Apple employees school

source
Geoffrey A. Fowler via Twitter

Also on Tuesday, Apple finally made several of its Mac accessories available in its signature black-and-silver color combination known as “space gray.”

Apple’s losses come as part of a broader tech selloff Tuesday that included Nvidia, Tesla, Netflix, and Microsoft all falling at least 4%.