Apple Stock Rises Ahead of September 9 Event Amid Anticipation of Foldable Device

Apple's stock price rose 1.5% on Friday, extending its strong run ahead of the company's September 9 product event. The shares have gained approximately 37% over the past year, with investors eagerly anticipating a refreshed iPhone lineup and potentially Apple's first foldable device.

The leadership transition has added another point of focus for investors. Analysts see John Ternus' appointment as CEO on September 1 as a shift toward greater technical leadership and system-level execution. Shares have gained more than 17% since his appointment was announced on April 20.

Apple's recent sales performance has provided additional support for the stock. iPhone sales increased 21.7% in the latest quarter, marking the second consecutive quarter of growth above 20%. The company's second-quarter results also exceeded market expectations, while its guidance for the following quarter was strong.