Apple shares fall to $234 mark even as iPhone maker keeps next-gen smartphone rates largely steady

Apple shares faced selling pressure on Tuesday, September 9, as investors weighed news announcements from the second most valuable American firm's "Awe Dropping" event. The stock seesawed in a range of $5.4 -- between 233.4 and 238.8 -- before settling at $234.4 apiece for the day, down 1.5 per cent from its previous close. Selling in Apple shares occurred even as the technology giant largely kept its prices steady while doubling the basic storage capacity to 256 GB. Its next-generation iPhone range starts at $799 while the iPhone 16e is priced at $599. 

Once again, Apple shares kept at least half their trend alive, but closing within around 1 per cent of the previous close on the iPhone launch day. Typically, the Apple stock stsaged gradual recovery in the weeks following the big day announcements. 

Apple vs Dow vs Nasdaq

The Apple scrip underperformed each of the Dow, the S&P 500 and the tech stocks-heavy Nasdaq Composite, which rose 0.3-0.4 per cent for the day. 

Here are 10 key takeaways from the Apple Awe Dropping event: 

• Apple unveiled its iPhone 17 lineup, headlined by the all-new iPhone Air with an "impossibly thin" design, stronger build and the latest A19 Pro chip.
• The iPhone Air starts at $999. The company described it as its most durable device yet, with CEO Tim Cook calling it “the biggest leap ever for iPhone". 
• Apple has kept prices largely steady despite US tariffs, with the iPhone 17 starting at $799. The iPhone 17 lineup has 256 GB storage as standard.
• The premium iPhone 17 Pro stays at the previous year's $1,099 price tag for 256 GB. However, Apple has rolled out a cheaper, entry-level alternative at $999.
• The iPhone Air carries a high-density battery while removing the physical SIM card slot.The slimmer device also gets a new N1 chip for Wi-Fi and a C1X modem for cellular data. Apple claims to have provided MacBook Pro levels of computing in the iPhone Air.
• The basic iPhone 17 features a brighter, more scratch-resistant screen and an improved selfie camera.
• Apple also introduced the AirPods Pro 3, offering features such as live language translation. This feature enables the user to interact with a foreign language-speaking individual in real time. If both users wear the devices, the technology can translate in near real-time.

ALSO READ: 'Buy the Rumour, Sell the News': How Apple shares tend to move on mega September launch day

• The Apple Watch lineup now sports a blood pressure monitor. This is yet to clear regulatory hurdles in some 150 countries.
• Apple claims this feature will help notify over 1 million people worldwide, though it won’t be able to detect every case of hypertension.  
• The iPhone maker has highlighted its deeper push into AI, leaning on its partnership with OpenAI. It has positioned itself as a leader in device-level integration.

Catch Apple 'Awe Dropping' highlights  

Apple unveiled its much-awaited iPhone 17 lineup, headlined by the all-new iPhone Air with a slimmer design, stronger build, and the latest A19 Pro chip.

The iPhone Air, which CEO Tim Cook called “the biggest leap ever for iPhone,” starts at $999 and is being marketed as the company’s most durable device yet.

Apple has kept prices steady despite U.S. tariffs, holding the iPhone 17 base model at $799 but doubling the storage to 256GB.

The premium iPhone 17 Pro also stays at last year’s $1,099 price tag for 256GB storage, though Apple has dropped the cheaper $999 entry-level option.

The thinner iPhone Air carries a high-density battery, making space by removing the physical SIM card slot.

It also gets a new N1 chip for Wi-Fi and a C1X modem for cellular data, a shift away from long-time suppliers Broadcom and Qualcomm.

“This is MacBook Pro levels of compute in an iPhone,” said Apple chip executive Tim Millet during the launch.

The base iPhone 17 features a brighter, more scratch-resistant screen and an improved selfie camera designed to make horizontal shots look better.

Apple also introduced the AirPods Pro 3, with live language translation built into the earbuds.

In fact, if both people in a conversation wear the new AirPods, the devices can translate in near real-time, breaking barriers for global communication.

The Apple Watch lineup gained a new blood pressure monitor, pending regulatory approval in 150 countries.

The feature won’t catch every case of hypertension but Apple estimates it will help notify over 1 million people worldwide.

The company also highlighted its deeper push into AI, leaning on its partnership with OpenAI while positioning itself as a leader in device-level integration.

Analysts noted that Apple is avoiding the AI arms race dominated by Google’s Gemini, instead banking on hardware-software synergy.

Wall Street had closely tracked whether Apple would hike iPhone prices due to tariffs, but the company chose stability, signalling confidence in its ecosystem driving sales.