Apple shares climb after unveiling iPhone 18 Pro and foldable Duo under new CEO

Apple's shares gained about 1% in early Thursday trading after the company introduced its iPhone 18 Pro and the foldable iPhone Duo on Sept. 9. The new iPhone 18 Pro, priced from $1,199, features an upgraded camera system, longer battery life and a faster processor aimed at on-device artificial intelligence. Apple also announced updated AirPods and Apple Watch models.

The iPhone Duo, starting at $1,999, unfolds to a 7.6-inch display and is described by the company as its first foldable iPhone, intended to gauge consumer interest in a higher-priced form factor.

John Ternus, who assumed the CEO role on Sept. 1 after serving as senior vice president of hardware engineering, led the product rollout less than two weeks into his tenure. The launch follows robust sales of the iPhone 17 series, prompting analysts to consider whether the new lineup can maintain upgrade demand. Apple closed the previous trading day at $315.34, down about 0.3%.