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Delayed iPhone X launch pressures Apple stock

The much anticipated 10th-anniversary edition of the iPhone has made its debut, but one of the few cliffhangers in its premiere didn’t help Apple stock.

Apple’s launch event Tuesday was largely a by-the-numbers affair because of a massive leak late Friday that essentially spilled most of the juicy product-related details: New features such as wireless charging and the elimination of the home button, and of course the high-end model called iPhone X. Still, initial excitement about Apple’s AAPL, -0.40% new offerings drove shares to within $1 of a record high, but investors reversed course after Apple revealed that the $1,000 smartphone would not factor into its current fiscal year.

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