Apple shares in focus: Shares of Apple Inc fell 1.3% in intraday trade on 8 September, dropping to $315 per share on Nasdaq, ahead of an event where the company is poised to unveil its first foldable phone, along with the iPhone 18 Pro and iPhone 18 Pro Max.
The introduction will also serve as a debut of sorts for CEO John Ternus, who took the job on September 1. At Wednesday's event, Apple is expected to update its premium iPhone Pro and Pro Max devices but hold off on refreshing the iPhone Air and the base and budget lines until spring 2027.
The aim is to drive interest in the real star of tomorrow's show: the folding phone. Analysts expect Apple to announce a new iPhone at its headquarters in Cupertino, California, that folds open like a passport, Reuters reported.
They said it could quickly emerge as the category leader in the nascent folding-phone market, despite an expected price of more than $2,500 and cameras and processors that may not lead the market.
"Even with a $2,500 price tag, the Apple foldable is going to fly off the shelves, especially because Apple is excellent at creating an aura of exclusivity, luxury, and scarcity," Nabila Popal, senior research director at IDC, told Reuters.