Apple Inc. has seen its market value shrink by about $56.8 billion since unveiling the iPhone 17 on September 9, as muted investor enthusiasm weighed on the tech giant’s stock.
Shares of the $3.5 trillion company slipped to 1.6% between September 9 and 12, with the steepest drop — 3.2% — recorded on September 10, a day after the launch event. Analysts said the slide reflected concerns that the new iPhone offered only modest updates, falling short of hopes for breakthrough features.
A slight recovery followed on September 11 as markets steadied and reports of strong pre-order activity began to surface. Early demand figures, particularly from China — Apple’s second-largest market — pointed to record day-one orders despite broader weakness in Chinese consumer spending. That momentum helped lift Apple shares by 1.29% in pre-market trading on September 15.
Even so, Apple’s overall performance this year has lagged. Its stock is down 4.01% year-to-date, underperforming the S&P 500’s 14.84% gain — a gap of nearly 19 percentage points. Market watchers attribute much of the drag to Apple’s slow adoption of artificial intelligence, a sector that has become a focal point for investors and tech rivals alike.
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The company’s AI strategy has faced internal challenges, underscored by the recent exit of senior AI executive Robby Walker, reportedly frustrated by the pace of product integration. Meanwhile, competitors such as Microsoft, Google, and Nvidia have surged ahead with aggressive AI rollouts, helping them post significant market gains.
While record pre-orders hint at resilient demand for Apple’s latest smartphone, analysts caution that the company will need bolder innovations and a clearer AI roadmap to regain momentum with investors.
