Apple Stock Rises Ahead of September 9 Event Amid Speculation Over Foldable iPhone

Apple's stock price rose by 2 percent to $321 on Friday as investors await the company's September 9 product event, where it is expected to unveil its iPhone 18 lineup and Apple Watch updates. The move follows a short rebound from Apple's late-July peak near $344.

The company's market value remains in the mid-$4 trillion range, with its stock price trading at a high-30s trailing price-to-earnings multiple. This has raised questions about how quickly on-device AI will change buying behavior and whether supply constraints on memory and advanced processors could limit Apple's shipments into the holiday quarter.

Apple's recent quarterly results showed revenue of $109.4 billion, up 16 percent from a year earlier, with diluted earnings of $2.02 a share beating Wall Street's estimate of $1.89. iPhone revenue rose 22 percent to $54.3 billion, while Mac revenue jumped 29 percent to about $10.4 billion.

The company has not confirmed whether it will release a foldable iPhone, but research firm IDC is projecting over 10 million foldable iPhone shipments in the first year if the product arrives.