Apple has scheduled a launch event for September 9, the first hosted by incoming CEO John Ternus, who will replace Tim Cook next week. The company is expected to unveil a new foldable iPhone, with research firm IDC forecasting more than 17 million units shipped by 2027 and a 40% market share in the segment. Despite an average selling price exceeding $2,550, IDC predicts the device will generate more than $45.7 billion in value, accounting for over half of the category’s total value. The broader smartphone market remains rocky, with IDC cutting its 2026 outlook to a 16.7% decline due to rising memory costs driven by AI demand. Meanwhile, technology stocks advanced Thursday, with the S&P 500 up about 0.75% and the Nasdaq gaining roughly 1.5%, in an uneven rally between software and AI infrastructure stocks.
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