- Apple shares rose up to 2% after launching the iPhone 18 series and a foldable iPhone
- The iPhone 18 Pro starts at $1,199, featuring upgraded cameras, longer battery, and AI chip
- Apple introduced the Duo foldable iPhone with a 7.6-inch display priced at $1,999
Apple shares jumped as much as 2% on Thursday following the launch of the iPhone 18 series and the company's first foldable iPhone, signalling a positive initial reaction from Wall Street to its latest product lineup.
The stock later pared some of the gains, and was trading at $318.72, up $3.38, or 1.07%, at 10:01 a.m. EST.
The gains came after Apple unveiled its latest iPhone lineup, including the iPhone 18 Pro and Pro Max, alongside its long-awaited foldable iPhone. The launch represents a major expansion of Apple's premium smartphone portfolio and comes as investors look for fresh growth drivers from the company.
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The iPhone 18 Pro starts at $1,199, $100 higher than the starting price of the iPhone 17 Pro. Apple said the new Pro models feature upgraded cameras, longer battery life and a faster chip designed to power more artificial intelligence features directly on the device.
The company also unveiled the Duo, its first foldable iPhone, with a starting price of $1,999. The device opens into a 7.6-inch display, marking Apple's entry into a premium smartphone category that has so far been dominated by rivals.
The foldable is likely to be closely watched by investors as Apple tests whether its customer base is willing to pay a significant premium for a new form factor.
Apple also introduced new AirPods and Apple Watch models alongside the iPhone lineup.
ALSO READ: iPhone Duo Vs Galaxy Z Fold8: Specs, Cameras, Price Compared
The iPhone 18 Pro and Pro Max will be available for pre-order from Sept. 12 and go on sale from Sept. 18. The Pro models come with relatively limited exterior changes, with Apple adding new colour options while retaining a design broadly similar to the iPhone 17 Pro.
The launch is also an important one for John Ternus, who became Apple's CEO on Sept. 1 after serving as senior vice president of hardware engineering.
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