Apple share price came under pressure after the company unveiled its latest iPhone lineup and a series of new products, with investors appearing underwhelmed by the announcements. Shares of Apple were down about 1.53% despite the launch of the iPhone 18 Pro and Pro Max, an upgraded Siri, new AirPods and Apple Watch models.
Apple shares closed at $315.34 on 9 September, down 0.28% or $0.88, after the company unveiled its latest iPhone lineup and other products at its annual launch event.
The event marked the first major iPhone launch under new CEO John Ternus, who succeeded Tim Cook on 1 September. The debut comes at a crucial time for Apple, with investors looking for the new product cycle to support growth, even as the company continues to face questions about its AI strategy.
Apple stock rally sets high bar
Apple shares have gained about 14% since 25 June, when the company announced price increases across several products. The announcement had initially triggered the stock’s worst one-day decline in more than a year.
The subsequent rally has been driven partly by expectations surrounding Apple’s latest devices, particularly its much-anticipated foldable iPhone. Despite the gains, Apple shares remain around 8% below their all-time high recorded on 28 July.
The market’s muted response to the latest launch suggests investors may already have priced in significant optimism around the new product cycle.
iPhone 18 Pro comes with a higher price tag
Apple introduced the iPhone 18 Pro and iPhone 18 Pro Max, with the devices available in Deep Black, Silver, Glacier Blue and Burgundy.
The iPhone 18 Pro starts at $1,199 for 256GB, while the Pro Max starts at $1,299. Both models are $100 more expensive than their corresponding iPhone 17 Pro versions.
Apple has also added a 2TB storage option. The iPhone 18 Pro features a next-generation vapor chamber with three times the surface area of the cooling system used in the iPhone 17 Pro.
Apple said the iPhone 18 Pro can deliver up to 24 hours of battery life, while the Pro Max offers up to 30 hours on a single charge.
Interestingly, the company did not unveil the standard iPhone models at the event.
Apple steps up its AI push with new Siri
AI was another major focus of the event as Apple attempted to address concerns about its position relative to other Big Tech companies.
The company unveiled an upgraded Siri that it described as an “entirely new version”, capable of carrying out actions within apps, including third-party applications. Apple said the new Siri can work with more than 300,000 apps.
The company also announced iPhone Handoff, an iOS 27 feature that allows users to use one phone number across multiple devices.
New AirPods and Apple Watch models
Apple also expanded its hardware portfolio with the launch of AirPods 5, which come with longer battery life and active noise cancellation.
The AirPods 5 are priced at $129, while the wireless-charging version costs $149.
The company also introduced the Apple Watch Series 12 and Apple Watch Ultra 4.
What next for Apple stock?
Apple’s latest product cycle will now face scrutiny over whether higher-priced iPhones can translate into stronger sales and revenue growth.
Revenue is expected to increase 15% in fiscal 2026, which would be Apple’s fastest growth since 2021. At the same time, investors will be watching the company’s ability to manage rising memory costs and accelerate its AI ambitions.
For Ternus, the launch represents an important early test of his leadership. For investors, the key question is whether Apple’s latest products can justify the optimism already reflected in the stock price.
(With inputs from Bloomberg and other wire agencies )
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