Apple Unveils Foldable iPhone, AI Upgrades in Muted Market Response

Apple's highly anticipated launch event saw the unveiling of its first foldable iPhone, alongside new iPhone and Apple Watch models. The company also announced a range of AI upgrades, but investors seemed underwhelmed by the news.

The new iPhone series features a $100 price increase compared to the previous model, which may not be enough to offset rising component costs. Despite this, Apple CEO John Ternus touted the next-generation iPhone as the best device for artificial intelligence (AI).

Apple's stock closed at $315.34, down 0.28%, with trading volume reaching 64.7 million shares, nearly 2% above its three-month average.