Apple lost more than $50 billion in market value after the unveiling of its new iPhone 17 series, as shares slipped 1.5%.
Investors reacted negatively to the event, citing modest design updates, familiar pricing, and ongoing tariff concerns. With Wall Street expecting breakthrough features, the muted reception dragged Apple’s market cap from $3.54 trillion to about $3.48 trillion, making it one of the weakest responses to an iPhone launch in recent memory.
The drop highlights the high expectations Apple faces with every release and the pressure to deliver innovation in a competitive market.
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