Apple Shares Recover Slightly as Foldable iPhone Launch Remains on Track
Apple (NASDAQ: AAPL) shares trimmed earlier losses on Tuesday, trading down around 2.8% after falling more than 4% earlier in the session. The recovery followed a Bloomberg report indicating that Apple’s foldable iPhone is still on schedule for a September launch, despite ongoing development challenges.
Foldable iPhone Expected Alongside New Flagship Models
According to reports, Apple continues to plan the release of its first foldable device this September, alongside the next-generation iPhone 18 Pro and Pro Max models.
Earlier Setback Reports Weighed on Stock
The stock initially declined after a Nikkei Asia report suggested Apple had encountered issues during the engineering testing phase of its foldable iPhone. These challenges raised concerns about potential delays in mass production and shipment timelines.
In a worst-case scenario, early shipments of the foldable device could be pushed back by several months, according to sources cited in the report. Previous coverage had also indicated that Apple is targeting a broader flagship rollout, including foldable and upgraded non-folding models, in the second half of 2026.
App Store Growth Data Adds Pressure
Apple’s shares also faced pressure from weaker App Store performance data. UBS analyst David Vogt noted that App Store revenue grew approximately 7% in the March 2026 quarter, with growth impacted by flat performance in the U.S. market.
On a currency-adjusted basis, growth was closer to 5%, in line with the previous quarter.
Gaming Weakness Drags on Performance
Evercore ISI analyst Amit Daryanani highlighted that slowing growth in March was largely due to weakness in the gaming segment. Gaming revenue declined by 1% year-over-year, contributing to softer overall performance.
Regionally, App Store revenue fell 2% in the U.S. and 3% in Japan, while China showed stronger growth of 7%.
Recent Rally Before Pullback
Apple shares had gained roughly 5% over the previous four trading sessions before Tuesday’s decline, reflecting strong momentum ahead of the latest reports.
