Apple’s foldable iPhone to be unveiled on Wednesday, with market focus on pricing and sales

Apple's $570 billion summer surge has placed high expectations on incoming CEO Ternas, as he prepares for the company's most anticipated event in years: the launch of the foldable iPhone on Wednesday. Since the company announced price increases for several products on June 25, the stock price has risen by 15%, despite hitting its worst performance in over a year on that day. Since then, the notable rally in shares has been mainly fueled by enthusiasm for the new device lineup, especially the foldable phone. However, the stock price is still about 7% below the all-time high set on July 28. Apple is still viewed as a laggard in artificial intelligence, which is a fundamental long-term issue for investors. In the short term, though, the fate of the stock may depend on the market response to the new iPhone, the company's ability to manage soaring memory costs, and Ternas’s performance after taking over from former CEO Cook on September 1. Morgan Stanley expects the starting price for the foldable iPhone to be between $2,300 and $2,500. They estimate Apple will ship around 6.5 million units in the first fiscal quarter ending in December, with sales of about $14 billion — roughly 16% of the expected total iPhone revenue for that quarter.