Apple’s iPhone Launch Erases ₹5.34 Lakh Crore in Value

Cupertino, California– Apple unveiled its much-anticipated iPhone 17 series and the ultra-slim iPhone Air, but the market reaction was swift and brutal. Within minutes of the launch, Apple’s stock tumbled 1.6%, erasing nearly $60.55 billion (₹5.34 lakh crore) in market value.

At the event, CEO Tim Cook called the iPhone Air “the biggest leap ever for iPhone.” At just 5.6 mm thick, the titanium device features a high-density battery, the powerful A19 Pro chip for energy efficiency, and a sleek design aimed at competing with Samsung’s Galaxy S25 Edge and foldable phones. The iPhone Air starts at $999, positioned between the iPhone 17 ($799) and iPhone 17 Pro ($1,099). Despite absorbing more than $1 billion in U.S. tariffs, Apple kept prices unchanged, raising investor concerns over shrinking margins.

The iPhone 17 lineup brings brighter, more durable screens, upgraded cameras, and improved battery life. Apple also introduced the AirPods Pro 3 with live translation capabilities, and a new Apple Watch featuring a blood pressure monitor pending regulatory approval.

The iPhone Air is set to challenge Samsung’s Galaxy S25 Edge, with analysts suggesting it may also pave the way for Apple to compete in the foldable segment—an area where Samsung, now in its seventh generation of foldables, dominates. Entering this space could be crucial for Apple to regain ground in China, where foldable devices are highly popular and the company has been steadily losing market share.

Analysts praised the lineup’s breadth but criticized the absence of a bold AI narrative. While Google is showcasing its Gemini AI models, Apple leaned on hardware advances and its partnership with OpenAI to integrate AI features across devices. The company also revealed new in-house chips—N1 for Wi-Fi and C1X for cellular—replacing components from Broadcom and Qualcomm, whose shares dipped following the announcement.

Despite the sleek design and incremental innovations, Wall Street viewed the event as underwhelming. The muted excitement triggered a “sell-the-news” response, underlining Apple’s challenge: meeting sky-high expectations in a fiercely competitive smartphone market while navigating tariffs, shrinking margins, and intensifying AI competition.