Apple Unveils New iPhones, Including a Foldable Model and AI-Enhanced iPhone 18 Pro
On September 9, Apple introduced its latest product lineup during the company's first major event under new CEO John Ternus. The highlights included the debut of a foldable iPhone model and an upgraded iPhone 18 Pro with artificial intelligence (AI) features. Despite these innovations, investor reaction was muted as concerns over margin pressures emerged due to rising component costs and a $100 price increase for the iPhone 18 Pro series. Apple's stock closed at $315.34 on September 9, down by 0.28%, with trading volume reaching 64.7 million shares—slightly above its three-month average. The broader market also saw declines: the S&P 500 fell 0.48% and the Nasdaq Composite dropped 0.64%. Competitors like Microsoft and Alphabet also experienced downward trends, reflecting investor scrutiny of AI competition dynamics around Apple. The company's forward P/E ratio remains elevated at nearly 36, above its three-year average of about 30, raising questions over whether future earnings can justify the valuation.
Topics: AI upgrades Apple foldable phone iPhone launch stock market reaction