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Shares of Apple came under pressure after the technology giant unveiled its latest iPhone lineup, including its first foldable smartphone, as investors weighed whether the new products can deliver enough growth to justify the company’s lofty valuation.
Apple shares opened at $315.50 on September 9, compared with the previous session’s close of $316.22, before falling as low as $310.97, a decline of about 1.66%. The stock later recovered part of the loss, trading around $315.11.
The subdued market response came after Apple introduced the iPhone 18 Pro and Pro Max, the foldable iPhone Duo, new AirPods and updated Apple Watch models at an event that also marked the first major product launch under new CEO John Ternus, who succeeded Tim Cook on September 1.
Why Apple Shares Did Not Surge After the Launch
Despite the scale of the product unveiling, investors appeared more focused on the financial implications of Apple’s new hardware than the presentation itself.
Much of the information surrounding the iPhone 18 lineup had already been anticipated and widely reported ahead of the launch, limiting the element of surprise that could have triggered a stronger market reaction.
Historical data from Dow Jones Market Data also shows that Apple’s shares have, on average, declined 0.31% on days when the company introduces new smartphones, suggesting that a launch-day dip is not necessarily unusual for the technology giant.
Investors are instead likely to assess the new products based on their ability to generate stronger sales, protect profit margins and reinforce Apple’s competitive position over the longer term.
Foldable iPhone Raises the Stakes for Apple
The iPhone Duo represents Apple’s long-awaited entry into the foldable smartphone market, placing the company in direct competition with manufacturers that have already established themselves in the category.
The device carries a starting price of $1,999 and is expected to go on sale on October 23. It opens into a 7.6-inch display and supports Apple Pencil functionality, positioning it as a premium device rather than simply a redesigned conventional iPhone.
Apple is also pricing the iPhone 18 Pro at $1,199 and the Pro Max at $1,299, representing $100 increases over their predecessors.
The premium pricing could lift Apple’s revenue per device if customers embrace the new form factor. However, the company will need to demonstrate that the foldable category can expand its overall iPhone market rather than simply shift existing customers from other high-end models.
AI Remains a Bigger Question for Investors
While hardware remains central to Apple’s business, its artificial intelligence strategy is emerging as an even bigger concern for investors.
Ternus positioned the iPhone as an “intelligent personal hub”, highlighting an upgraded Siri and broader Apple Intelligence capabilities.
Apple said its AI systems will use on-device processing where possible, while private cloud computing will provide additional processing capacity when required.
The strategy comes as Apple faces continued questions about whether it is moving quickly enough in generative AI compared with major rivals, including Alphabet and other technology companies.
For Apple, the challenge extends beyond adding AI features to its devices. The company must demonstrate that artificial intelligence can strengthen the wider ecosystem that drives iPhone sales, services subscriptions and long-term customer loyalty.
Ternus Faces Early Test as CEO
The market reaction also places Apple’s new CEO under an early spotlight.
Ternus inherited a company with substantial financial strength and an established customer base, but also growing expectations that Apple must identify its next major engine of growth.
His first major product launch therefore carries significance beyond the iPhone itself. Investors will be watching whether the new leadership can develop products that create fresh revenue opportunities while maintaining the margins and customer loyalty built during Cook’s tenure.
The initial share-price movement suggests investors are reserving judgment rather than immediately rewarding the new products.
Wall Street to Judge Results Over Coming Months
The ultimate test for Apple’s latest strategy will come after the launch event.
Investors are expected to monitor pre-orders, iPhone Duo sales, holiday-season demand and Apple’s financial results to determine whether the new lineup can translate into sustained earnings growth.
For Apple, the challenge is therefore not simply generating excitement around the iPhone 18 launch. The company must prove that its move into foldable hardware, combined with its evolving AI strategy, can create a new phase of growth while preserving the premium economics of its existing business.
The muted initial market reaction underscores that investors are looking beyond the launch spectacle and focusing instead on whether Apple’s latest products can deliver measurable commercial results.
