Apple Stock Slides 1.17% Ahead of 'Surprise and Shine' Event

Apple's stock fell by 1.17% to $316.22 on September 8, marking a second consecutive decline. The drop came ahead of the company's 'Surprise and Shine' product event, where it is set to unveil its latest iPhone lineup, including the highly anticipated foldable iPhone 18 Fold.

The shares have gained around 21% this year, largely driven by expectations surrounding the new foldable device. However, some analysts have raised concerns about the pricing structure for the new lineup, with the foldable iPhone 18 Fold expected to start at $2,099 and reach up to $2,299.

Morgan Stanley analyst Erik Woodring has predicted that the foldable iPhone 18 Fold could generate approximately $14 billion in December-quarter revenue, with 7-8 million units expected to ship in the second half of 2026. However, this would require Apple's installed base to accept a significant price increase.

Apple's chief executive, John Ternus, will be presenting at the 'Surprise and Shine' event for the first time, having taken over from Tim Cook on September 1. The performance is expected to carry weight beyond any single product announcement, particularly with regards to Apple Intelligence features.