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Apple loses up to $81 billion in market value as shares tumble 4% post iPhone 12 launch
Apple stock fell as much as 4% on Tuesday as the tech giant unveiled its first slate of 5G- phones iPhone 12 range, erasing $81 billion worth of market value. The stock recovered some losses and closed down 2.7%. The tech giant revealed its first 5G-capable lineup of phones spread across four new models.
Apple’s new phones will be available in a 6.1-inch iPhone 12, 5.4-inch iPhone 12 Mini and the iPhone 12 Pro in 6.1-inch and 6.7-inch sizes, all of which support 5G. The new phones will also boast more durable screens, upgraded cameras, and a faster processor.
According to BusinessInsider, shares traded at an intraday loss before the event but slid further after the reveal began at 1 p.m.
At the stock’s intraday low of $119.65 per share, Apple saw $81 billion erased from its market capitalization. Apple traded at $121.97 per share as of 3:35 p.m. ET Tuesday, up roughly 67% year-to-date.
The Apple iPhone launch event adopted the usual concept of going online (for this year at least) and was recorded from the Apple Park.
The new 2020 iPhone 12 lineup includes four iPhones this time – the iPhone 12, the iPhone 12 Mini, the iPhone 12 Pro, and the iPhone 12 Pro Max – changing the number of iPhones per year henceforth.
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HBO defends JK Rowling’s involvement in Harry Potter series despite problematic stance on transgender community
JK Rowling, whose Harry Potter book franchise gave Warner Bros a blockbuster film franchise, is also associated with its upcoming HBO series.
JK Rowling has remained decidedly steadfast on her controversial stance on the transgender community. In a statement to Variety, HBO explained why the author is still involved in its upcoming series on Harry Potter despite her problematic gender politics. (Also Read: This Oscar-nominated actor lost out on Luna Lovegood role in Harry Potter, says how it ‘stayed with me over the years’)
What HBO said
“We are proud to once again tell the story of Harry Potter — the heartwarming books that speak to power of friendship, resolve and acceptance. JK Rowling has a right to express her personal views. We will remain focused on the development of the new series, which will only benefit from her involvement,” HBO’s statement stated.
It also added that its parent company Warner Bros “been working with JK Rowling and in the Harry Potter business for over 20 years” and “her contribution has been invaluable.” The report also states that HBO chief Casey Bloys informed the media at an event on November 12 that JK Rowling was “very, very involved in the process selecting the writer and the director,” and her anti-trans statements “haven’t affected the casting or hiring of writers or productions staff.”
A couple of days before that, Rowling had shared a screenshot of a tweet by an X user who wrote, “My disappointment is immeasurable and my day is ruined” when the author had revealed that she’s “very involved” in the Harry Potter series. Rowling wrote along with the screenshot, “I’ve only just seen this response to me saying I’m very involved in the Harry Potter TV show and I think I’ve pulled something laughing.”
About Harry Potter series
Warner Bros launched an open casting call for the leads Harry, Hermoine and Ron, who were played by Daniel Radcliffe, Emma Watson and Rupert Grint, respectively, in the eight-part movie franchise.
The series will most likely go ahead with newcomers for the top three characters and mix it with veterans for the adult cast, like the movie franchise, which featured Richard Harris as Dumbledore and roped in Michael Gambon after his death. Late star Maggie Smith played Professor McGonagall, and Alan Rickman starred as Professor Snape.
Mark Rylance, 64, who won an Academy Award for best supporting actor in 2016 for his work in Steven Spielberg’s Bridge of Spies, is reportedly at the top of the casting wishlist to play Dumbledore in the Harry Potter series.
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