Apple's Stock Price Takes a Hit Ahead of Crucial September 9 Presentation

Apple's stock price has been under pressure as investors await the company's September 9 presentation, where it is expected to unveil new iPhone models, including a foldable device.

The NASDAQ composite index was down by around 2.5% on Friday, and Apple's stock price, trading at around $320, has fallen by roughly 8.08% over the past week.

Friday's strong Non-Farm Payroll (NFP) numbers saw the U.S. economy add 162,000 jobs in August, exceeding forecasts of around 53,000-65,000, and boosted the probability of a Federal Reserve rate hike to around 60%.

The strong job growth and rising interest rates have increased pressure on Apple's stock price, particularly given its recent price surge. Analysts are warning about the risk of a 'sell-the-news' reaction after the presentation if the new models' specifications or pricing come in close to what is already priced in.