Apple Soars on Foldable iPhone Launch

Apple's latest product lineup has sent its shares soaring as much as 2% on Thursday, with investors reacting positively to the launch of its first foldable iPhone. The new devices include the iPhone 18 Pro and Pro Max, which retain a design similar to their predecessors but feature upgraded cameras, longer battery life, and a faster A20 Pro chip.

The bigger strategic move for Apple is its entry into the foldable smartphone market with the iPhone Duo, which starts at $1,999. This device opens up into a 7.6-inch display, combining a larger screen with a compact form factor. Apple is positioning the Duo as a premium device rather than competing primarily on volume in the foldable segment.

The launch will give investors a key test of whether Apple's installed customer base is willing to pay a substantial premium for a new form factor. The iPhone 18 Pro starts at $1,199, which is $100 above the starting price of its predecessor. Pre-orders for the Pro models begin on September 12, with sales starting September 18.