Apple AAPL stock rose 1.5% on Friday, extending a strong run ahead of the company’s September 9 product event.
Shares are up roughly 37% over the past year, with investors watching for a refreshed iPhone lineup and the potential debut of Apple’s first foldable device.
September event puts iPhone lineup in focus
Apple has confirmed its September 9 launch event, which will come shortly after John Ternus takes over as CEO on September 1, succeeding Tim Cook, who will become executive chairman.
The leadership transition has added another point of focus for investors.
Analysts cited in the provided material see Ternus’ appointment as a shift toward greater technical leadership and system-level execution. Apple shares have gained more than 17% since his appointment was announced on April 20.
The upcoming event is expected to feature a refreshed iPhone lineup, potentially including an AI-powered Siri built on new architecture.
A foldable iPhone is also a key area of speculation, with analysts suggesting the device could support premium pricing and potentially expand margins.
Apple’s recent sales performance has provided additional support for the stock.
iPhone sales increased 21.7% in the latest quarter, marking the second consecutive quarter of growth above 20%. The company’s second-quarter results also exceeded market expectations, while its guidance for the following quarter was strong.
Technical indicators point to positive momentum
Apple’s stock has also shown favorable technical signals. The weekly RSI stands at 57.22, which remains in buy territory without indicating overbought conditions.
The weekly ADX is at 45.5, pointing to a strong established trend, while the weekly MACD stands at 10.77 and indicates positive momentum.
The daily RSI is 52.5, suggesting the stock has room to advance without appearing stretched based on that indicator.
However, the upcoming product launch could also create volatility. Apple has historically seen its shares rally ahead of major iPhone launches before consolidating or pulling back after the event.
The potential foldable iPhone could alter that pattern because it would represent a new product category rather than an incremental upgrade.
Still, Barclays has expressed skepticism about potential foldable volumes, while Jefferies has questioned whether premium pricing would be sustainable.
Apple raises streaming prices
Separately, Apple has increased prices for its Apple TV streaming service in the US. The monthly subscription now costs $14.99, up from $12.99, while the annual plan increased to $119 from $99. The new prices apply to both new and existing customers.
Apple also raised the price of its individual Apple One bundle to $21.95 per month from $19.95. The bundle includes Apple TV, Apple Music, iCloud+, Apple Arcade, Apple News+ and Apple Fitness+.
The latest increase is Apple TV’s fourth price hike 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.
Apple also announced new Mac mini models featuring M6 and M5 Pro chips, adding another product update to its hardware lineup ahead of the September event.
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