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Apple foldable iPhone Duo launch weighs on tech stocks as Nasdaq slips
Apple’s first foldable handset debuts with a $1,999 price tag, while the market also awaited a key SEC S-1 filing from Anthropic.
Tech stocks fell in early trading Thursday, with the Nasdaq down more than 1% as investors weighed Apple’s launch of its first foldable smartphone, the iPhone Duo, according to Yahoo Finance.
The iPhone Duo features a 7.6-inch foldable screen and support for multitasking, including full-size video viewing, but it carries a $1,999 price tag that could limit demand. Separately, two AI researchers issued warnings about the future of AI, including Jacob Coxon, who said he resigned from Anthropic after previously working at OpenAI.
Investors are also looking for Anthropic to publicly file its S-1 investment prospectus with the SEC, a document expected to provide the first detailed look at the company’s financials and outlook, along with more information about its data center spending. Rumors have pointed to timing ranging from this week to October.
In other tech news, Yahoo Finance reports that SAP Chief Executive Christian Klein pushed back against the view that the company is behind in the AI software push, saying its new platform is becoming generally available in the fall and that customers are testing it. The outlet also noted SAP’s second-quarter performance, with sales up 9% year over year to 9.88 billion euros and cloud sales up 22%, though management trimmed full-year 2026 main operating profit guidance to reflect acquisitions.
Latest closeNasdaq Comp. 26,253.34 ▼0.6%