Apple  (AAPL) unveiled the HomePod, a high-end speaker that represents its latest foray into home entertainment, at the Worldwide Developers Conference on Monday. The device is the tech giant's first smart speaker to compete against the likes of Amazon's  (AMZN)  Echo and Alphabet's  (GOOGL) Google Home.  

The spatially aware speaker has an A8 computer chip, the same processor as inside the iPhone. The speaker features seven tweeters and a subwoofer that adjusts its output based on the acoustics of the room it is in. The speaker also features a microphone that allows users to communicate with Apple's digital assistant Siri to answer questions about the weather, news, stocks and podcasts, among other topics.

The #HomePod costs $349 https://t.co/p19s1dN5kh #wwdc2017 pic.twitter.com/gat70fMZqs

— TheStreet (@TheStreet) June 5, 2017

Apple priced the HomePod at $349 and said it will be available to ship in three colors in the U.S., U.K., and Australia in December.

Apple shares were trading down about 1.1% to $153.83 on Monday.

Jim Cramer and the AAP team hold a position in Apple for their Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells AAPL? Learn more now.

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