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KeyBanc Capital Markets Warns Apple Stock May Face Pressure Following Upcoming iPhone 18 Announcement

KeyBanc Capital Markets warned that Apple's upcoming iPhone 18 announcement on September 9 may act as a negative catalyst for the company's stock. The firm noted that investors will likely weigh pricing decisions against the impact of higher costs on demand and margins. KeyBanc Capital Markets predicted a $150 price increase for the iPhone 18 Pro and a $200 increase for the iPhone 18 Pro Max, while also forecasting a $2,199 starting price for the foldable iPhone Ultra. The firm highlighted that Apple is skipping the base iPhone 18 model for this cycle, which could lead to a decline in total builds from 91 million units to 80 million units across the next two quarters. However, KeyBanc Capital Markets suggested that Apple may phase in price increases selectively rather than raising all prices at once. Market data shows Apple stock recently fell 2.51 percent on September 4, 2026, while the broader S&P 500 index fell 0.38 percent. This decline occurred during a period of CEO transition and growing market skepticism regarding Apple's position in the artificial intelligence era.

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