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Apple shares slide ahead of debut foldable iPhone event
The launch is also expected to introduce CEO John Ternus to investors, with the foldable iPhone positioned as the main draw despite a price above $2,500.
Apple shares fell 1.3% in intraday trading on September 8 to $315 on the Nasdaq, as investors looked ahead to an Apple event expected to unveil the companys first foldable phone and updated iPhone 18 Pro models, according to LiveMint Markets.
The foldable device is also expected to mark a debut of sorts for CEO John Ternus, who started on September 1. At the event in Cupertino, Apple is expected to refresh the iPhone 18 Pro and iPhone 18 Pro Max, while delaying updates to the iPhone Air and the base and budget lines until spring 2027.
Analysts expect Apple to position the foldable phone as the key product at the event, even with an anticipated price of more than $2,500 and cameras and processors that may not lead the market, Reuters cited by LiveMint Markets said. The device, which folds open like a passport, would represent the biggest single design change in the nearly 20-year history of the iPhone, which accounts for roughly half of Apples sales.
Reporting also ties Apples foldable push to earlier years of internal work, with Tim Cook reportedly becoming increasingly convinced around 2020 that foldable phones could emerge as a new category after seeing growing adoption of devices from Samsung, Huawei, and other makers during trips to Asia, according to Bloomberg cited by LiveMint Markets. Analysts expect Apple to address engineering challenges such as making a durable hinge and minimizing screen creasing, to help it compete in a market that has existed since 2019.
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