The extream state or worry and anxiety caused by the fear that the overly priced Apple products may be lost, stolen, or broken.
Adam: Dude Jeff is going into iPanic mode
James: Why?
Adam: He dropped his new iPhone in the pool and its not turning on.
James: Why?
Adam: He dropped his new iPhone in the pool and its not turning on.
by CalPolyBrooks August 22, 2009
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