NEW YORK, NY / ACCESSWIRE / September 13, 2018 / Shares of Apple and Inpixon were headed in the opposite direction in Wednesday’s trading. Shares of Inpixon surged about 69% despite no news. Shares of Apple were not as lucky as they closed in the red after the company unveiled its new products at its annual debut event.
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Shares of Apple Inc. dropped 1.24 percent with 47 million shares traded. Traders did not seem to be excited with the announcements made by Apple yesterday at its annual debut event at its Cupertino headquarters in California. Apple introduced three new models of iPhone on Wednesday: the iPhone XS, XS Max, and XR. While the XS is an updated version of last year’s iPhone X, the XS Max is the exact same phone except enormous with a 6.5-inch screen. The iPhone XR, which is more or less identical to the XS except it’s a little cheaper, starting at $749. “iPhone XR helps us reach even more people with the latest iPhone innovations. It is packed with the newest technologies including a 6.1-inch Liquid Retina display that goes edge to edge, the latest TrueDepth camera with faster Face ID authentication, new 7-nanometer A12 Bionic chip with second generation Neural Engine and a 12-megapixel camera that takes advanced Portrait mode and Portrait Lighting photos,” said Apple’s senior vice president of Worldwide Marketing, Philip Schiller. The Company also announced a new Watch called Apple Watch Series 4. The watch has a 30% larger screen and a 50% louder speaker compared to its previous version. The watch comes with a new health sensor that lets you take an electrocardiogram, or ECG, that measures the heart's rhythm, not just the heart rate.
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Shares of Inpixon surged 68.8 percent higher on Wednesday on significant trading volume of 58 million shares traded compared to the average volume of just over 2 million shares. There was no news to explain the jump in the share price and volume. It was last week, Sep 4, that the company announced it has completed the spin-off of Sysorex, Inc., making both, Inpixon and Sysorex, separate publicly traded companies. Inpixon distributed one share of Sysorex common stock for every three shares of Inpixon common stock to its stockholders. “The successful completion of this separation marks a significant milestone for Inpixon and creates two independent companies with strong attributes for individual success and greater strategic flexibility, with each company now able to focus on its core business and better-positioned to bring enhanced value for all stakeholders including customers, stockholders, partner and employees,” said Inpixon CEO, Nadir Ali. “Inpixon is now focused exclusively on expanding its position as the leader in indoor positioning analytics, which we believe has a phenomenal growth potential in both Security and Intelligence markets,” Ali added.
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