Apple Falls Ahead of Foldable Event Amid Rising Energy Prices

Apple's upcoming foldable iPhone event is scheduled for today at 1:00 p.m. ET, and markets are already pricing in a significant portion of the expected narrative. The company's stock fell about 1.2% to around $316 ahead of the event, as investors reduce exposure and wait for greater clarity on pricing, supply plans, and margin implications.

The energy sector is leading gains today, with Brent approaching $100 due to a reduced supply premium following restricted Hormuz transit. Meanwhile, Bitcoin slipped to around $78,500, while September hike odds rose to about 60%, keeping overall risk appetite defensive.

AeroVironment's order visibility and guidance will be closely watched after the close today, while Apple's fall event is expected to provide key insights into pricing, supply plans, and margin implications for the company's foldable iPhone and on-device AI features.