Yesterday Apple unveiled its latest iPhone models, the XS and XS Max, at the company’s headquarters in Cupertino, California. The new versions offer 5.8 inch and 6.5 inch screens, with A12 bionic chips and a “breakthrough” dual camera system.
Both include the world’s first seven-nanometer chips inside smartphones, which will allow the new iPhones to outperform their X forebear in photo and video capability. The XS and XS Max will be available to pre-order online this Friday (Sept 14), and in Apple Stores worldwide on September 21.
Around the same time, US tech stocks took a tumble, dragging down markets with them. The NASDAQ and S&P both fell for the third straight day, prompting CNBC‘s Mike Santoli to coin the drop a “gut check for technology”, and symptomatic of a “pretty overheated section of the market.”
Overall, however, there is little to worry about in tech. It is overwhelmingly likely that stocks will level out, and that the market will quickly correct. The biggest concerns for investors in the US market are far away from Silicon Valley. Donald Trump’s White House has reportedly reached out to China for high-level trade talks, with a proposed $200bn-worth of tariffs up for discussion.
A category 4 hurricane is set to make landfall on the American east coast this week, and is set to cause “catastrophic flooding”. Beyond the human concern, which is by far the most important aspect of the event, investors should prepare for a dip in many share prices, including oil.