Apple's foldable iPhone debut on Wednesday puts immediate pressure on new CEO
Ternus after a roughly $570 billion summer market-cap rally. Since Apple
announced price increases on multiple products on June 25, the stock has gained
about 15%—despite that session marking its worst trading day in over a year—with
the rally driven mainly by enthusiasm for the new device lineup, especially the
foldable model. Shares remain about 7% below the July 28 record high. Investors
continue to view Apple as lagging on AI, a longer-term concern, but near-term
stock performance will depend on consumer reception to the foldable iPhone,
Apple’s ability to manage rising memory-chip costs, and Ternus’s early
performance after succeeding Cook on Sept. 1. Morgan Stanley estimates a
starting price of $2,300–$2,500, about 6.5 million unit shipments in the fiscal
quarter ending December and roughly $14 billion of revenue—around 16% of
expected iPhone revenue that quarter.
