Conflicting reports about Apple's first foldable iPhone sent the company's stock on a rollercoaster ride Tuesday, with shares dropping as much as 5% before recovering most losses by afternoon trading.
Nikkei Asia reported that Apple encountered "more issues than expected" during early test production of its foldable device, potentially delaying mass production and shipments by months.
"Apple and the supply chain are working under a pressured timeline and the current solutions are not enough to completely solve the engineering challenges."
Hours later, Bloomberg's Mark Gurman countered that the device remains on track for a September debut alongside the iPhone 18 Pro and Pro Max. Sources familiar with Apple's plans said the company still aims to launch its first foldable phone during its normal iPhone launch period this fall.
Apple shares rebounded from their worst levels after Gurman's report, closing down about 2% instead of the earlier 5% decline. The company celebrated its 50th anniversary last week but declined to comment on either report.
The foldable iPhone represents Apple's entry into a market dominated by Samsung since 2019 and increasingly competitive Chinese manufacturers. While engineering challenges could limit initial supply for several weeks, Apple reportedly plans to put the device on sale around the same time or shortly after its non-foldable models.
Gurman noted that production has yet to ramp up fully and "the timing isn't final" with six months remaining until the expected September launch window.
