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Apple unveils first foldable iPhone, shares end near flat
The foldable iPhone, dubbed iPhone Duo, starts at $1,999 and creates a new ultra-premium tier above Pro models, as Apple also rolled out iPhone 18 Pro and Pro Max updates.
Apple unveiled its first-ever foldable iPhone and refreshed its premium iPhone lineup on Wednesday, Sept. 9, marking its most significant iPhone reinvention in more than a decade, according to MarketBeat Ratings.
The event included the iPhone Duo, which opens into a tablet-sized display while still fitting in a pocket. The device starts at $1,999 and supports features such as Apple Pencil support and split-screen multitasking, with new CEO John Ternus positioning it as the most innovative iPhone yet.
MarketBeat Ratings said the market reaction was muted. Apple shares dipped during the event before recovering to finish the day roughly flat, leaving the stock around 8% below July’s all-time high despite being up more than 16% for the year.
Alongside the foldable launch, Apple introduced the iPhone 18 Pro and Pro Max with new chips, upgraded camera systems, improved battery life, and deeper AI integration, plus updates to its Watch and AirPods lines. The outlet said investors will now focus on whether the foldable and higher-priced Pro models can translate into sustained iPhone growth and support the stock over the next few months.