AAPL Stock Takes a Hit as Investors Weigh Demand for iPhone 18 Pro and Foldable Duo

Apple Inc.'s (AAPL) stock dipped about 1% on Tuesday as investors assess demand for its latest iPhones, including the iPhone 18 Pro and the foldable Duo.

The release of iOS 17 on Monday introduced Apple's redesigned Siri AI assistant in beta, just days before new iPhone models are set to hit stores.

Analysts believe the upgraded Siri could boost sales as customers upgrade their devices. Deepwater Asset Management's Gene Munster expects growth to approach 20% due to delayed product launches.

JPMorgan, however, cautioned against drawing firm conclusions from early lead times data, noting that supply allocations can differ from previous years.