Apple’s stock had a turbulent April 7. It took two competing reports and most of a trading session to stabilize.
Shares fell as much as 5% after Nikkei Asia reported engineering setbacks in the early test production phase of the company’s first foldable iPhone. Then Bloomberg‘s Mark Gurman reported that the device remains on track for a September launch alongside the iPhone 18 Pro and iPhone 18 Max, and shares pared their losses.
What media reports said about the foldable iPhone
The Nikkei report, published April 6, described engineering challenges serious enough to threaten the mass-production timeline. “Apple and the supply chain are working under a pressured timeline, and the current solutions are not enough to completely solve the engineering challenges,” a source told Nikkei. “More time is needed.”
Nikkei identified April through early May as a critical window for Apple to resolve those issues before production ramps. The memory-chip shortage currently squeezing iPhone supply is not a factor in the foldable delay, Nikkei noted.
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Gurman’s Bloomberg report pushed back on that picture. Sources within Apple told Bloomberg the foldable is still planned for September. The device will cost more than $2,000 and is a key part of Apple’s plan to revamp the iPhone lineup.
Bloomberg added a caveat: The release is six months away, and production has not yet ramped up, so the timing is not final.
Gurman is widely regarded as one of the most reliable reporters on Apple’s internal plans, which is why his report carried enough weight to move the stock. The market’s reaction to both pieces within the same trading session illustrated how sensitive investors are to any signal about the foldable’s trajectory.
Why Apple’s foldable iPhone launch matters so much
iPhones account for more than half of Apple’s $143.8 billion in revenue for the most recent quarter, according to TIKR. Any threat to a flagship product launch hits the stock hard and fast.
Samsung has had foldable phones on the market since 2019. Apple’s entry into the category has been anticipated for years, and the foldable is positioned as a key step in expanding the premium iPhone lineup to compete with Samsung and Chinese smartphone makers. A slipped timeline would give rivals additional runway in a segment Apple has yet to enter.
The foldable is also part of a broader three-year plan by Apple to reinvent the look and feel of the iPhone. Last year the company introduced overhauled Pro and Pro Max models alongside a thinner version called the iPhone Air. The foldable is the next chapter in that redesign effort, and arriving late would undercut the momentum Apple has been trying to build.
Apple stock was already down roughly 7% for the year heading into April 7. With little room for more negative news, the partial recovery following Gurman’s report reflected some relief, but not full confidence that the September target is secure.
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App Store data added pressure of its own
The foldable news was not the only weight on shares. Two analyst notes flagged softness in App Store performance heading into the quarter.
What analysts found in the March 2026 App Store data:
- Overall App Store growth was approximately 7%, weighed down by flat U.S. performance, according to UBS analyst David Vogt, citing Sensor Tower data, Insider Monkey reported.
- On a foreign exchange neutral basis, growth was approximately 5%, consistent with the December quarter.
- Gaming revenues fell 1% year over year, according to Evercore ISI analyst Amit Daryanani, Investing.com reported.
- U.S. App Store revenue declined 2% year over year; Japan fell 3%.
- China showed 7% growth, providing a partial offset.
Taken together, the App Store picture added a second layer of concern for investors already rattled by the foldable news.
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What comes next for Apple
The dueling reports leave September technically intact but not guaranteed. Gurman’s sourcing carries weight at Bloomberg, and the stock’s partial recovery reflects some market confidence that the timeline holds.
But with production not yet ramped and April and May flagged as critical months for resolving engineering challenges, the picture is still developing.
There is also a broader context worth noting. Bloomberg previously reported that a $3,000 foldable iPad was pushed back to 2029 or later, a sign that Apple’s ambitions in the foldable space have already run into delays on more than one front.
The foldable iPhone is a different product on a different timeline, but the pattern is a reminder that foldable engineering is genuinely hard, even for Apple.
Apple’s Q1 2026 earnings are scheduled for April 22 after market close. That call will be the first chance for management to address the foldable timeline on the record. Investors will be watching for any indication of whether September is a firm commitment or a working assumption that remains open to revision.
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