Apple shares sink 4% on report of foldable iPhone delays
An Apple logo hangs above the entrance to the Apple store on 5th Avenue in New York City’s Manhattan district.
Mike Segar | Reuters
shares Apple It sank 4% on Tuesday following reports that the company was facing engineering challenges with its highly anticipated foldable iPhones.
“Apple and its supply chain are working under a pressured timeline, and current solutions are not sufficient to fully resolve the engineering challenges. … More time is needed,” said a person familiar with the situation. Nikkei Asia.
Apple, which celebrated its 50th anniversary last week, announced four new iPhone models at the launch event it has held every September since 2020. The foldable phone was expected to launch alongside the iPhone 18 in September 2026, but delays could change that timeline.
CNBC has reached out to Apple for comment.
According to Nikkei, April to early May is seen as a critical period for the iPhone maker to resolve engineering issues before production.
SAMSUNGApple, Apple’s biggest rival in the US smartphone market, launched its first foldable phone in 2019. iPhones are a major moneymaker for Apple, accounting for more than half of the company’s reported $143.8 billion in revenue for the first quarter of fiscal 2026.
Nikkei reported that the memory chip crisis, which makes it difficult to meet growing iPhone demand, did not play a role in the foldable phone delay.
Apple shares year-to-date.
