Apple Stock Rises Ahead of September Event Amid Anticipation for Foldable iPhone and AI-Powered Features

Apple's stock price rose 1.5% on Friday as investors await the company's September 9 product event. The anticipation is centered around a refreshed iPhone lineup, potentially including an AI-powered Siri and Apple's first foldable device.

The leadership transition, with John Ternus taking over as CEO on September 1, has added another layer of focus for investors. Analysts see Ternus' appointment as a shift towards greater technical leadership and system-level execution.

Apple's recent sales performance has also provided 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 exceeded market expectations, while its guidance for the following quarter was strong.