AAPL Stocks Tumble Ahead of Apple's Foldable iPhone Launch

Apple's highly anticipated September 9 product launch event is set to unveil its first foldable iPhone, along with an updated AI-powered Siri and Apple Watch 12. The keynote will be led by new CEO John Ternus, marking the company's direction during a leadership change.

The current stock price of AAPL stands at $316.23, below key short- and medium-term moving averages but above the long-term average. Technical indicators show bearish momentum with a projected trading range of $309.19 to $323.27.

On the technical front, AAPL is trading below both the MA-20 at $321.42 and MA-50 at $321.49 on the hourly time frame, while prices remain above the MA-200 at $284.1 on the daily chart.