Business
oi-Prakash KL
Apple shares dipped 1.53% following the company’s annual hardware showcase, closing at $315.34 on September 9 as Wall Street reacted with caution to the tech giant’s latest product lineup, according to a report in Bloomberg.
The high-profile event marked the debut major keynote for John Ternus, who assumed the role of CEO on September 1 following Tim Cook’s departure. Ternus stepped onto the stage facing immediate pressure to prove that Apple’s upcoming hardware cycle can justify a summer stock rally that drove shares up 14% since late June, though the stock remains roughly 8% below its July all-time high. Market analysts noted that investors may have already baked the upcoming product catalysts into the stock price, leaving little room for immediate upside.
Apple shares dipped following the Sept 9 hardware showcase where the company debuted the iPhone 18 Pro ($1,199+) and Pro Max ($1,299+), AirPods 5, Apple Watch Series 12, an AI-powered Siri overhaul, and the iPhone Handoff feature, prompting cautious market reaction.
Apple skipped standard models entirely during the keynote, focusing exclusively on high-end hardware. The iPhone 18 Pro and Pro Max debuted with price increases, starting at $1,199 and $1,299-each marking a $100 bump over the previous generation.
- Available in Deep Black, Silver, Glacier Blue, and Burgundy.
- Features a newly introduced 2TB storage option.
- Packed with a next-generation vapor chamber cooling system boasting triple the surface area of the iPhone 17 Pro.
- Rated for up to 24 hours of battery life on the Pro and 30 hours on the Pro Max.
Siri Overhaul and Ecosystem Additions
Artificial intelligence took center stage as Apple looked to quell lingering market anxieties regarding its position behind competitors in the AI race. The company revealed a rebuilt version of Siri capable of executing deep, multi-step actions inside more than 300,000 third-party applications. Alongside the assistant update, Apple introduced iPhone Handoff, a new iOS 27 feature enabling users to seamlessly manage a single phone number across multiple devices.
Hardware updates extended beyond smartphones to Apple’s audio and wearable categories. The AirPods 5 arrived with extended battery life and active noise cancellation, carrying a $129 price tag for the base model and $149 for the wireless-charging variant. Rounding out the announcements were the Apple Watch Series 12 and Apple Watch Ultra 4.
