Apple shares slide after iPhone Duo foldable debut and $100 price hike

Apple ↘ 0.28% shares slid on Wednesday after the company unveiled the iPhone 18 Pro lineup alongside its first foldable smartphone, the iPhone Duo, at a launch event that also brought a $100 price increase for its flagship devices. The stock dropped roughly 2% during the session, extending a multi-day losing streak that has left shares well below their recent highs.tipranks+1

Price Hikes Temper Enthusiasm for Historic Launch

The "Surprise and Shine" event, held at Apple Park on September 9, marked the first major product launch under CEO John Ternus, who succeeded Tim Cook. While the introduction of the foldable iPhone Duo represented a milestone for Apple, investor attention quickly shifted to the $100 price increase on the iPhone 18 Pro and Pro Max models. The iPhone 18 Pro now starts at $1,199, and the Pro Max at $1,299.coinpedia+2

Apple has attributed the higher prices to a global component shortage, particularly for memory chips used in its smartphones. Still, the increase was more modest than some on Wall Street had expected. Analysts in recent days had forecast price hikes of $250 to $500, according to TipRanks. The new devices are set to begin shipping on September 18.tipranks

Competitive Pressures and Market Reaction

The stock's decline came against a backdrop of mounting competition in the foldable smartphone segment from Samsung and Huawei, both of which have established footholds in the category. The foldable iPhone Duo is expected to carry a price tag above $2,000, positioning it as a ultra-premium device aimed at high-end buyers.wealthawesome+1

Beyond the iPhone, Apple announced AirPods 5 with longer battery life and improved noise cancellation at $129, a new Apple Watch with a consolidated health-score feature, a custom A20 processor for the iPhone 18 lineup, and updates to its Siri assistant with new AI capabilities.tipranks

What Wall Street Is Watching

Analyst targets on Apple remain wide-ranging. Bank of America holds a $380 price target, while HSBC sits at $366. On the bearish end, KeyBanc has a $250 target, citing valuation concerns and potential margin pressure from higher iPhone prices. The stock had already fallen roughly 3.5% over the five sessions leading into Wednesday's event, and now sits about 8% below its 52-week high set in late July. Whether the new product cycle can reverse that slide will depend on early demand signals for the iPhone 18 and, in particular, the foldable Duo.ndtvprofit+1