Swatch Shares Bruised by New Apple Watch
- Shares decline as much as 3% after Apple unveils latest model
- New Apple Watch no longer needs to be paired with mobile phone
Asymco's Dediu Says Apple Watch Is a 'Sleeper Hit'
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Swatch Group AG shares fell as much as 3.2 percent on concern Switzerland’s largest watchmaker will face more competition from the latest version of the Apple Watch, which can make calls and send messages without requiring a mobile phone.
Apple Inc. unveiled Series 3 of its smartwatch Tuesday, with prices starting at $329. Swatch shares dropped as low as 377.3 francs as of 11:50 a.m. in Zurich on Wednesday.