iPhone's launch wiped $2 billion off BlackBerry's market cap

Technology giant Apple unveiled the first-generation iPhone ten years ago on January 9, 2007, and the announcement wiped off $2 billion in rival BlackBerry's market cap. While BlackBerry's shares went down 6%, the stocks of Apple itself rose almost 7% after the keynote event. Former Apple CEO Steve Jobs called the iPhone "a revolutionary and magical product".