Apple Unveils Foldable iPhone & New AI Strategy

Watch on YouTube ↗  |  September 09, 2026 at 21:53  |  1:36:01  |  Bloomberg Markets
Speakers
Mark Gurman — Chief Correspondent, Bloomberg News
Tony Wang — Portfolio Manager, T. Rowe Price
Nabila Popal — Senior Research Director at IDC
John Sculley — Zeta Global Vice Chairman Emeritus and former Apple CEO
Ed Ludlow — Co-Host, Bloomberg Technology
J.K. Symancyk — CEO, Signet Jewelers
Walter Piecyk — Chief Economist, Evercore ISI
Catherine Clay — CEO, S&P Dow Jones Indices
Romaine Bostick — Anchor, Bloomberg
Glenn August — CEO, OHA, T. Rowe Price Group, Inc.
Tag Greason — Co-CEO, QTS
Kevin Crowley — Bloomberg Senior U.S. Reporter
Eric Hansotia — CEO, Chairman & President, AGCO Corp.
Lana Payne — National President, Unifor

Summary

Bloomberg's The Close covers Apple's foldable iPhone and new AI strategy, with most guests framing it as a premiumization and demand positive for Apple. The program also discusses Signet's strong jewelry earnings, S&P 500 rebalancing and equal-weight flows, private credit opportunities in AI infrastructure and distressed software, data center demand, and an agricultural equipment cycle bottom. Oil markets spike on Middle East tensions while tariff risks weigh on Canadian workers.

  • Apple launches foldable iPhone Duo at $1,999 and articulates an iPhone-centric AI strategy under new CEO John Ternus.
  • Analysts see Apple's foldable driving premiumization, ASP/margin improvement, upgrade cycle, and meaningful revenue.
  • Signet raises guidance and highlights strength in fine jewelry, lab-grown fashion, and timepieces.
  • S&P Dow Jones CEO sees increased investor flows into S&P 500 equal-weight products as a hedge against Big Tech concentration.
  • Oak Hill sees attractive private credit opportunities in AI infrastructure, distressed/CCC credit, and new senior-secured loans at wider spreads.
  • QTS says data center demand is outstripping supply, reducing overbuild concerns.
  • Oil rises above $100 as Middle East tensions and low storage buffers tighten refined product cracks.
  • AGCO CEO sees agricultural equipment cycle bottoming with North America leading recovery.
Ideas
Mark Gurman Chief Correspondent, Bloomberg News 2:31
Apple foldable opens new product era.
There is a genuine rethink in demand modeling for Apple's foldable after seeing the device; Bloomberg Intelligence sees 14 million units in the first 12 months, and if Apple sells 4-6 million in the December quarter it adds billions of revenue, making $1,999 pricing a meaningful cycle even if it is low double digits of overall revenue.
AAPL HIGH
Nabila Popal Senior Research Director at IDC 11:13
Apple boosts foldable smartphone market demand.
Apple's foldable launch should have a huge impact on the foldable market, boosting it to nearly 13% growth and potentially lifting IDC forecasts because the price came in lower than expected; surveys show 30% of Apple-leaning consumers would likely buy, justifying demand.
Foldable smartphone market HIGH
J.K. Symancyk CEO, Signet Jewelers 29:56
Signet earnings momentum supports stock upside.
Signet raised guidance for the second time this year on solid fundamentals, with five of six positive comp quarters, positive comps across fine jewelry, higher average unit retail from high-end goods, lab-grown fashion expansion, and timepiece business back to double-digit growth; the company is well positioned for the holiday.
SIG HIGH
Catherine Clay CEO, S&P Dow Jones Indices 47:21
Equal-weight S&P gains from market widening.
Investors are increasingly using S&P 500 equal-weight products to escape Big Tech concentration risk, and flows into equal-weight products have crossed major milestones as the market appears to be widening.
RSP MED
Glenn August CEO, OHA, T. Rowe Price Group, Inc. 55:01
AI infrastructure lending offers attractive credit returns.
Extraordinary AI compute and data center demand is creating lending opportunities in infrastructure, power, data centers and equipment; Oak Hill favors senior-secured, collateral-backed structures such as turbine financing with 1.5-2x overcollateralization, and supply/demand technicals are widening spreads enough to improve relative and absolute value.
AI infrastructure lending Data center debt HIGH
Glenn August CEO, OHA, T. Rowe Price Group, Inc. 56:50
Distressed credit dispersion creates compelling opportunities.
Credit dispersion is extreme: high-yield and loan market higher-rated buckets trade at top-decile valuations while CCC debt trades at the widest levels, and CLO-driven selling of software and CCC paper is creating irrational, indiscriminate selling; investors who can pick and work out troubled credits can profit from forced sellers and the 2027-2029 maturity wall.
Distressed credit CCC debt HIGH
Glenn August CEO, OHA, T. Rowe Price Group, Inc. 61:15
New private credit offers wider senior-secured spreads.
BDC redemptions and outflows are reducing demand for new private credit, widening spreads 25-50 basis points; new senior-secured loans at 9% unlevered returns are attractive on both levered and unlevered bases for those with dry powder.
BIZD Senior secured loans HIGH
Tag Greason Co-CEO, QTS 71:48
Data center demand outstrips supply.
Data center demand signals are clear and demand is currently outstripping supply; QTS works with large investment-grade companies on long-term planning and is not worried about overbuilding, supporting continued data center infrastructure buildout.
SMH MED
Kevin Crowley Bloomberg Senior U.S. Reporter 75:00
Oil and refining cracks stay tight.
Middle East escalation shows no sign of ebbing and global storage buffers have been drawn down, pushing Brent above $100; refining is the pinch point, with crack spreads roughly three times the historic average because of lost refining capacity, so refined products remain tight until demand destruction emerges.
BNO Refining crack spreads MED
Eric Hansotia CEO, Chairman & President, AGCO Corp. 82:58
Ag equipment cycle bottoming boosts AGCO.
AGCO expects 2025 to mark the bottom of the agricultural equipment cycle and sees recovery from here, with North America most enthusiastic due to rising grain prices and E-15 ethanol demand; its retrofit autonomy business can reach competitor machines and new customers without cannibalizing new equipment.
AGCO HIGH
Up Next
9:27
US Energy Secretary Wright on Diesel Prices, Iran and Venezuela Output
Bloomberg Markets · Sep 09
4:17
Jaguars owner Shad Khan: NFL is still greatly undervalued compared to other sports
CNBC · Sep 09
26:28
ESPECIALISTA RESPONDE A PERGUNTAS SOBRE INTELIGÊNCIA ARTIFICIAL | Especialista Responde #02
Market Makers · Sep 09
2:20
First impressions of the foldable iPhone Duo — Apple's biggest iPhone redesign ever
CNBC · Sep 09
6:50
'Agent states' are the new apex predators, says Crowdstrike CEO George Kurtz
CNBC · Sep 09

This Bloomberg Markets video, published September 09, 2026, features Mark Gurman, Nabila Popal, J.K. Symancyk, Catherine Clay, Glenn August, Tag Greason, Kevin Crowley, Eric Hansotia discussing AAPL, Foldable smartphone market, SIG, RSP, AI infrastructure lending, Data center debt, Distressed credit, CCC debt, BIZD, Senior secured loans, SMH, BNO, Refining crack spreads, AGCO. 10 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Mark Gurman, Nabila Popal, J.K. Symancyk, Catherine Clay, Glenn August, Tag Greason, Kevin Crowley, Eric Hansotia  · Tickers: AAPL, Foldable smartphone market, SIG, RSP, AI infrastructure lending, Data center debt, Distressed credit, CCC debt, BIZD, Senior secured loans, SMH, BNO, Refining crack spreads, AGCO