Apple stock rises ahead of Sept. 9 event as foldable iPhone looms

Apple shares rose 1.5% on Friday as investors prepared for the company’s Sept. 9 product event and the transition to John Ternus as CEO on Sept. 1. Tim Cook will become executive chairman. Shares are up about 37% over the past year and more than 17% since Apple named Ternus as successor on April 20.

Apple confirmed the Sept. 9 launch and has indicated updates to the iPhone lineup. Reports point to an AI-enhanced Siri built on new architecture. Speculation about a foldable iPhone intensified ahead of the event.

Some analysts expect a foldable iPhone to support premium pricing and expand device margins by creating a higher-priced segment. Barclays questioned potential foldable volumes, while Jefferies raised doubts about whether a sustained premium price point is realistic.

iPhone sales rose 21.7% in the most recent quarter, marking the second straight quarter of growth above 20%. Apple’s second-quarter results exceeded expectations and the company provided strong guidance for the coming quarter.

Technical indicators showed a weekly relative strength index near 57.2, a weekly average directional index of 45.5 and a weekly MACD at 10.77, with the daily RSI around 52.5.

Historically, Apple shares have often rallied into major iPhone launches and then consolidated or pulled back after the events. A foldable iPhone would be a new product category rather than an incremental upgrade.

Separately, Apple raised prices for several U.S. services: Apple TV+ is now $14.99 per month, up from $12.99, and the annual plan is $119, up from $99. The individual Apple One bundle increased to $21.95 per month from $19.95. Apple TV+ launched in 2019 at $4.99 per month and now has more than 300 original shows and movies. The company also introduced new Mac mini models featuring M6 and M5 Pro chips.