Business 2.0

Live from Apple's iPhone event

October 4, 2011: 11:38 AM ET

Fifteen months after the iPhone 4 was introduced, Apple unveils its successor: the iPhone 4S

Cook wraps it up. Photo: PED

Apple on Tuesday introduced a new iPhone, the iPhone 4S, and a new voice control system called Siri that it hopes will keep it ahead of its competitors by changing the way people communicate with their mobile phones.

Siri, however, is still in beta -- or not quite finished -- mode.

And the phone most of the world was waiting for -- the iPhone 5 -- did not materialize.

The result: A special event that was more an update on existing products than the breakthrough many were expecting.

The market reacted by punishing the stock. By 2:11 PM, Apple was trading at $360.44, down $14.46 (3.9%) from its opening price of $374.90. Only two weeks ago it hit an all-time intraday high of $422.86.

The stock recovered somewhat by the end of the day to close at $372.50, down only $2.10 (0.56%) for the day.

Below: Our live blog of the event in reverse order, with the most recent entries on top.

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