Apple Stock Falls Ahead of Foldable Phone Debut Amid High Expectations

Apple's highly anticipated iPhone event is set to take place tomorrow, and investors are keeping a close eye on the tech giant's stock. Shares of Apple Inc fell by 1.3% in intraday trade on September 8, dropping to $315 per share on Nasdaq, ahead of the event.

The company is poised to unveil its first foldable phone, as well as the iPhone 18 Pro and iPhone 18 Pro Max. The introduction will also serve as a debut for CEO John Ternus, who took the job on September 1.

Analysts expect Apple to update its premium iPhone Pro and Pro Max devices but hold off on refreshing the iPhone Air and the base and budget lines until spring 2027.

The focus is on the folding phone, which could quickly emerge as the category leader in the nascent market. Despite an expected price of over $2,500, Apple's device is expected to fly off the shelves due to its aura of exclusivity, luxury, and scarcity.