‘Awe Dropping’ Turns ‘Stock Dropping’ for Apple: Can the Thinnest-Ever iPhone Take AAPL Stock Higher?

Apple (AAPL) held its live “Awe Dropping” event yesterday, Sept. 9, where it unveiled the new iPhone 17 along with upgrades to other products, which will go on sale next month. As was the case with the Worldwide Developer Conference (WWDC) in June, the “Awe Dropping” event turned into a “stock dropping” event for AAPL.

Apple announced the new generation of iPhones, including the thinnest iPhone ever, at the event, which CEO Tim Cook termed the “biggest leap ever for iPhone.” However, as was the case with this year’s WWDC, markets didn’t share Apple management’s enthusiasm and most analysts saw the improvements as incremental instead of being truly pathbreaking. Yesterday’s event only strengthened the narrative that Apple is lagging in artificial intelligence (AI) even as its Big Tech peers are racing ahead. In this article, we’ll look at the key highlights of Apple’s event and examine what’s been plaguing AAPL stock this year.