Apple share price came under pressure after the company unveiled its latest iPhone lineup and a series of new products, with investors appearing underwhelmed by the announcements. Shares of Apple were down about 1.53% despite the launch of the iPhone 18 Pro and Pro Max, an upgraded Siri, new AirPods and Apple Watch models.
Apple shares closed at $315.34 on 9 September, down 0.28% or $0.88, after the company unveiled its latest iPhone lineup and other products at its annual launch event.
The event marked the first major iPhone launch under new CEO John Ternus, who succeeded Tim Cook on 1 September. The debut comes at a crucial time for Apple, with investors looking for the new product cycle to support growth, even as the company continues to face questions about its AI strategy.
Apple shares have gained about 14% since 25 June, when the company announced price increases across several products. The announcement had initially triggered the stock's worst one-day decline in more than a year.
The subsequent rally has been driven partly by expectations surrounding Apple's latest devices, particularly its much-anticipated foldable iPhone. Despite the gains, Apple shares remain around 8% below their all-time high recorded on 28 July.