Business
oh-Prakash K.L.
Apple shares fell 1.53% after the company’s annual hardware unveiling, closing at $315.34 on Sept. 9 as Wall Street reacted cautiously to the tech giant’s latest product line, according to a Bloomberg report.
This high-profile event marked the debut of a major report from John Ternus, who took over as CEO on September 1 after the departure of Tim Cook. Ternus took the stage facing immediate pressure to prove that Apple’s upcoming hardware cycle can justify the stock’s summer rally, which has sent the stock up 14% since late June, although the stock remains about 8% below its all-time high in July. Market analysts said investors may have already priced upcoming product catalysts into the stock price, leaving little room for immediate upside.
Apple shares fell after its September 9 hardware event, where the company unveiled the iPhone 18 Pro ($1,199) and Pro Max ($1,299+), AirPods 5, Apple Watch Series 12, an updated AI-powered version of Siri and iPhone Handoff, prompting a cautious market reaction.
Apple skipped standard models entirely during its keynote, focusing solely on high-end hardware. The iPhone 18 Pro and Pro Max debuted with price increases, starting at $1,199 and $1,299 each, $100 more than the previous generation.
- Available in Deep Black, Silver, Glacier Blue and Burgundy.
- Has a newly introduced 2TB storage option.
- Equipped with a next-generation vapor chamber cooling system, the surface area of which is three times larger than that of the iPhone 17 Pro.
- Rated for 24 hours of battery life on Pro and 30 hours on Pro Max.
Siri update and ecosystem additions
Artificial intelligence took center stage as Apple sought to quell lingering market concerns about its position behind rivals in the AI race. The company unveiled a redesigned version of Siri that can perform complex, multi-step actions inside more than 300,000 third-party apps.
Along with the Assistant update, Apple introduced iPhone Handoff, a new iOS 27 feature that allows users to seamlessly manage one phone number across multiple devices.
The hardware updates extended beyond smartphones to Apple’s audio and wearables categories. AirPods 5 arrived with longer battery life and active noise cancellation, priced at $129 for the base model and $149 for the wireless charging option. Rounding out the announcements are the Apple Watch Series 12 and Apple Watch Ultra 4.