Apple’s stock recovers after hit from unprecedented price hikes on products

Last week, Apple announced dramatic price increases on Macs, iPads, and other products due to rising component costs. As a result, Apple’s stock price took a dive. As we head into the holiday weekend, however, $AAPL has rebounded with a 5% gain today.

So what has investors so optimistic ahead of the July 4th weekend?

Wall Street probably feels positively about last night’s report that Apple is reportedly telling suppliers to make more foldable iPhone Ultra models.

Nikkei Asia reports that Apple upped its forecast from 7-8 million units to around 10 million units. For an iPhone that IDC predicts will have an average selling price of around $2500, that’s a strong signal.

Of course, the ultra-expensive iPhone will still be a fraction of Apple’s total iPhone sells for the year.

IDC expects Apple to sell around 240 million units across 2026. Nikkei’s report suggested that 70-75 million could be iPhone 18 Pro and iPhone 18 Pro Max models.

Apple isn’t expected to replace the iPhone 17 and iPhone Air with the iPhone 18 and iPhone Air 2 until spring 2027.

Or, if you ask Siri, investors are excited about Siri.