Apple’s long-awaited foldable iPhone is still on track to launch this year - despite a dramatic stock market wobble sparked by fears of delays.

The tech giant’s shares plunged as much as 5 percent earlier today after a report suggested the device had hit manufacturing problems that could push back production.

But those fears were quickly eased by a new report from Bloomberg’s Mark Gurman - widely regarded as the most reliable Apple insider - who said the phone remains on schedule for a September debut.

According to Gurman, Apple is still planning to unveil the foldable iPhone alongside its iPhone 18 Pro and Pro Max models during its usual fall launch event.

The conflicting reports triggered a wild swing in Apple’s stock price, highlighting just how much is riding on the company’s next big product.

Shares later recovered some of their losses after the Bloomberg report, though they were still down around 2.7 percent in afternoon trading.

The foldable device is expected to open like a book, offering a much larger screen for watching videos, gaming and multitasking.

Apple is also believed to have fixed some of the biggest complaints about foldable phones, including visible screen creases and durability issues.

When unfolded, the device will reportedly function more like an iPad, with apps redesigned to take advantage of the larger display.

However, the cutting-edge design is expected to come with a hefty price tag of more than $2,000 - making it one of the most expensive iPhones ever.

The launch is a key part of Apple’s wider plan to reinvent the iPhone and keep pace with rivals like Samsung, which have already pushed ahead with foldable devices.

Although it remains a fan-favorite product, the 2024 Samsung foldable phone sparked controversy among shoppers with its eye-watering $1900 price tag. 

Today, the Samsung Galaxy Z Fold7 starts at $1999.99, according to the official site.

The most expensive model comes in at $2,419.99 - and that is not including the added insurance for minor repairs.

Meanwhile, Apple has quietly discontinued one of its most popular products, the iconic Mac Pro line, after 20 years. 

Experts believe this is an effort to modernize its existing lineup of tech products, including the iPhone 17e. 

The new, smaller phone includes MagSafe charging, which many fans were disappointed was missing on the iPhone 16e. 

The industry giant also unveiled more powerful MacBook laptops earlier this year.

Apple is also introducing Apple Intelligence, which provides Siri enhancements among other features. The Apple Intelligence included on the latest AirPod model provides real-time translations for its users.