Apple (AAPL) shares advanced 1.5% on Friday, building on a strong run as investors position for the company's September 9 product launch. The stock has climbed roughly 37% over the past year, with the upcoming event expected to showcase a refreshed iPhone lineup and potentially the first foldable device from the tech giant.
Leadership transition adds to investor focus
The September event comes on the heels of a significant leadership change. John Ternus is set to take over as CEO on September 1, succeeding Tim Cook, who will move to the role of executive chairman. Analysts cited in the provided material view Ternus's appointment as a shift toward deeper technical leadership and stronger system-level execution. Since the announcement on April 20, Apple shares have gained more than 17%.
The event is widely expected to introduce a new iPhone lineup, possibly featuring an AI-enhanced Siri built on a new architecture. A foldable iPhone remains a key point of speculation, with some analysts suggesting it could support premium pricing and potentially expand margins. However, not all are convinced; Barclays has expressed skepticism about foldable volumes, while Jefferies has questioned the sustainability of premium pricing.
Recent sales performance supports stock
Apple's latest quarterly results have provided additional tailwind. iPhone sales rose 21.7% in the most recent quarter, marking the second consecutive quarter of growth above 20%. The company's second-quarter earnings exceeded market expectations, and its guidance for the following quarter was strong.
Technical indicators also point to positive momentum. The weekly Relative Strength Index (RSI) stands at 57.22, which remains in buy territory without signaling overbought conditions. The weekly Average Directional Index (ADX) is at 45.5, indicating a strong established trend, while the weekly Moving Average Convergence Divergence (MACD) at 10.77 suggests positive momentum. The daily RSI is 52.5, implying the stock has room to advance without appearing stretched.
Potential volatility around product launch
Historically, Apple shares have tended to rally ahead of major iPhone launches before consolidating or pulling back after the event. The potential introduction of a foldable iPhone could alter that pattern, as it would represent a new product category rather than an incremental upgrade. Investors will be watching closely to see if the company can deliver on that front.
Apple raises streaming prices
In a separate development, Apple has increased prices for its Apple TV streaming service in the U.S. The monthly subscription now costs $14.99, up from $12.99, while the annual plan rose to $119 from $99. The new rates apply to both new and existing customers. The company also raised the price of its individual Apple One bundle to $21.95 per month from $19.95, which includes Apple TV, Apple Music, iCloud+, Apple Arcade, Apple News+, and Apple Fitness+.
This marks the fourth price hike for Apple TV in four years. The service launched in 2019 at $4.99 per month and has since expanded its library to more than 300 original shows and movies. Additionally, Apple announced new Mac mini models featuring M6 and M5 Pro chips, adding another product update ahead of the September event.
As the event approaches, market participants will be weighing the potential for a foldable iPhone against the broader tech landscape. For context, recent moves in chip stocks and gold prices have been influenced by macroeconomic factors, but Apple's product cycle remains a key driver for its own shares.
This article is for informational purposes only and does not constitute financial advice.
