Apple shares fell 1.3% in intraday trading on 8 September to $315 on the Nasdaq, a move that coincided with the eve of the company's most significant product launch in years. Tomorrow's event will unveil the first foldable iPhone alongside the iPhone 18 Pro and Pro Max, marking the debut of chief executive John Ternus, who assumed the role on 1 September. The iPhone line still generates roughly half of Apple's revenue, making the foldable's reception a direct test of the company's growth trajectory.
Ternus's first act
The event serves as Ternus's public introduction as chief executive. Apple plans to refresh only the premium Pro and Pro Max models this autumn, holding the iPhone Air and base-tier updates until spring 2027. That cadence concentrates attention, and average selling price pressure, on the foldable, which analysts expect to carry a price above $2,500.
The foldable bet
IDC senior research director Nabila Popal told Reuters the device will "fly off the shelves" despite the price, citing Apple's ability to manufacture exclusivity and scarcity. The foldable opens like a passport and represents the largest single design shift in the iPhone's nearly two-decade history. Cameras and processors may not lead the market, but the hinge and screen crease, persistent flaws in rival devices, are said to be solved.
Late entry, engineered catch-up
Samsung, Google and Huawei have sold foldables since 2019. Apple's work on the category began before Samsung's Galaxy Fold launch, according to people familiar with the matter cited by Bloomberg. A 2020 Asia trip by then-chief executive Tim Cook, during which he observed widespread foldable use in China, accelerated the programme. The delay allowed Apple to target the engineering problems that have kept the category niche.
What to watch
The stock's reaction tomorrow will hinge on whether the foldable reads as a halo product or a volume driver. Pre-orders, supply-chain commentary and any guidance on attach rates for services will matter more than the keynote itself.