Apple's foldable iPhone event: why buying shares beforehand may disappoint

Apple holds its largest product event in years Wednesday, expected to unveil its first foldable iPhone, but analysts warn investors against buying beforehand due to risks of high prices and a potential "sell-the-news" reaction. The stock fell 1.2% Tuesday to $316.22, though it remains up about 16% this year. CEO John Ternus leads his first product launch after succeeding Tim Cook on September 1. KeyBanc estimates the foldable could cost $2,199, with iPhone 18 Pro models rising up to $200, potentially causing "sticker shock" and weaker unit demand. Morgan Stanley projects $14 billion in December-quarter revenue from the device. Apple shares historically drop an average of 0.72% on iPhone announcement days and 1.22% five days later. Analysts note most foldable sales may cannibalize existing premium iPhone purchases rather than attract new customers, questioning whether the device creates genuine additional demand.