Apple shares sink 4% on report of foldable iPhone delays

Apple's stock took a hit on Tuesday, declining by 4% following news of potential delays in the launch of its eagerly awaited foldable iPhone. Reports indicate that the tech giant is grappling with engineering hurdles that have impeded progress. According to a source cited by Nikkei Asia, both Apple and its supply chain are under tight deadlines, and current solutions are insufficient to address these challenges. More time is required to find viable resolutions. The foldable iPhone was initially slated to debut alongside the iPhone 18 in September 2026, but these delays could alter that timeline significantly. Apple celebrated its 50th anniversary just last week and has consistently introduced four new iPhone models each September since 2020. The upcoming months are considered critical for Apple, as resolving these engineering issues is essential before entering production. In contrast, Samsung, a leading competitor in the U.S. smartphone market, entered the foldable phone arena back in 2019. iPhones remain a cornerstone of Apple's financial success, contributing over half of the company’s reported revenue of $143.8 billion for the first quarter of fiscal 2026. However, it appears that the ongoing memory chip shortage, which has complicated the fulfillment of rising iPhone demand, is not a factor in the delays surrounding the foldable device. CNBC has reached out to Apple for further comments on this situation.