Apple just launched the iPhone 15 but is that enough for its stock price?

Apple Inc (NASDAQ: AAPL) hosted its annual product launch event today at its headquarters in Cupertino, California. The show was also livestreamed on YouTube.

The Apple iPhone 15 is finally here

Apple unveiled the much-anticipated iPhone 15 on Tuesday with an upgraded camera, a standard USB-C charging port, and its premium A16 bionic chip (standard on low-end variants).

Shares of the tech behemoth are still materially in the red this afternoon. According to Paul Meeks of Independent Solutions Wealth Management:

It’s my least favourite among my large-cap tech holdings. Over time, they’ll have to show us where does the growth accelerator come from. Among large-cap tech, they’ve been most silent on AI.

Apple has already had three straight quarters of revenue declines (find out more). The iPhone 15, it announced today, will start at $799 only.

Apple’s A17 Pro is industry’s first 3nm chip

The iPhone 15 Pro will be powered by an all-new 3nm chip (industry’s first) that Apple is calling the A17 Pro.

Among products it launched at the annual event on Tuesday was the Apple Watch Ultra 2 as well. Still, Paul Meeks said today on CNBC’s “The Exchange”:

I think they should consider making a quite large acquisition. They have a strong balance sheet [to] easily do it. That’s probably best opportunity for accelerated growth and they badly need it.

Apple also unveiled the latest AirPods and new fine woven bands not made of leather (for environmental reasons) for its smartwatch today. Its shares are down nearly 10% versus their year-to-date high at writing.