Apple Shares Fall as Investors Await iPhone 18 Pro Max Launch
Apple's shares dipped by 0.23% on Tuesday morning to $316.11, ahead of its highly anticipated September 9 event. The company has not revealed which products will be announced, but analysts expect an iPhone 18 Pro Max and possibly a foldable device.
The tech giant generated $54.25 billion in iPhone sales for the June quarter, representing a 22% increase from the same period last year. This accounted for 49.6% of Apple's total revenue of $109.42 billion, which saw an overall rise of 16%. Gross margin stood at 50.1%, influenced by about two percentage points from tariff refunds.
The iPhone Pro models have become a key driver of growth, and investors are closely monitoring the pricing strategy for the new devices. According to MacRumors, prices may increase by up to $300, but these specifics remain unverified. Apple's September event will be its first major product launch under new Chief Executive John Ternus.