Image: Apple

Apple (AAPL) finally announced plans for a brand-new iPhone model earlier today, but investors apparently weren’t impressed as the company’s stock slid by -1.48% by the market’s close.

The iPhone Air debuted in Apple’s September “Awe Dropping” event along with iPhone 17, 17 Pro and 17 Pro Max. The event also featured a new pair of AirPods and several new watches.

It’s been a somewhat lackluster year for the tech giant as Apple has fallen behind some of its peers when it comes to AI.

Today’s presentation included multiple new products but basically ignored AI.

Here’s a quick breakdown of every new item that Apple announced today:

• Airpods 3
• Apple Watch Series 11
• Apple Watch SE 3
• Apple Watch Ultra 3
• iPhone 17
• iPhone 17 Air
• iPhone 17 Pro
• iPhone 17 Pro Max

Will the ultra-thin iPhone Air suffer sub-par battery life?

Apple has taken heat over the past few years for releasing phones that look incredibly similar.

Apparently Apple heard the criticism as it provided a fairly large overhaul of its phone line up this year.

The base iPhone 17 got a significantly improved screen and base storage was upgraded to 256gb. The iPhone 17 Pro features a new camera bump and a mixed-back construction.

The most notable new product, however, is the brand-new, extremely-thin iPhone 17 Air. It represents arguably the first all-new iPhone model since the iPhone X in 2017.

It remains to be seen if there will be a huge market for the iPhone Air. It’s been rumored for years, but critics have concerns about the battery life. Apple didn’t release any specific figures about battery life, instead stating it would have “All-day battery life.”

iPhone event doesn’t move the needle

The September iPhone event is arguably the biggest day on Apple’s calendar, but it hasn’t been a huge driver in the stock’s performance, at least for the last five years.

Apple stock actually shot up during the first five minutes of the event but then crashed back down to earth and ended up losing 1.48% on the day.

Here’s a look at the last five years of Apple stock during its September event:

Apple stock has been remarkably flat after each of its notable events. The 2023 event stands out as a low point, as the iPhone 15 receives very little of note (other than a USB-C port).

Ironically, the 2020 September event, which didn’t include iPhones because of the pandemic, was the best-performing day when it came to stock price.

Interestingly, there is a trend of APPL spiking 3-4 months after the September event. It’s happened four out of the last five years (with 2022 the one major exception). That might be particularly relevant this year, when Apple is expected to have more information about AI in the new year.

(Click on image to enlarge)

Apple’s performance over the last five years, with September events denoted by red dots. Data from Nasdaq.

Will Apple Get an AI Boost in 2026?

One of the reasons investors might not have been impressed with the recent event is that – despite a number of new products – there was no update on AI.

Apple has been criticised heavily for falling behind in the AI arms race when competitors like Google have added numerous AI features to their devices over the last few years.

Apple made a huge push for its proprietary Apple Intelligence during last year’s iPhone 16 launch but many of the features are still missing. Apple Intelligence was barely mentioned during this year’s iPhone event.

There may be good news on the AI front for Apple but it might take significantly longer than people expected. The latest rumor is that Apple is considering a deal with Google to use its Gemini service on Apple devices. Right now the partnership is exploratory but if it does come to fruition it would likely take until 2026 for Apple to announce a more far-reaching AI strategy.

The discussions led to some positive movement for the stock but today’s event seems to have curtailed that development for the time being.

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