Apple lost about $116 billion (over ₹9.7 lakh crore) in valuation after assessment of new iPhone 16 series' pre-order sales showed sooner-than-expected deliveries, signalling weaker-than-expected demand. Shipping time and first-weekend sales for iPhone 16 Pro were down nearly 42% and 27% compared to iPhone 15 Pro from last year. Delay in availability of Apple Intelligence may have weakened demand.