Apple fans may have been pleased with yesterday’s media event, but one group that wasn’t is Switzerland’s largest watchmaker. Shortly after Apple announced its new Series 3 Apple Watch, shares in Swatch Group AG tumbled 3.2 percent due to concerns about added competition.
The Apple Watch Series 3 saw Apple add cellular capabilities to its wearable device — meaning that you no longer need to carry around your iPhone to receive texts, calls, emails, or Apple Map directions.