Apple expected to unveil first foldable iPhone as new CEO Ternus takes stage
Apple is reportedly preparing to unveil its first-ever foldable iPhone alongside an updated Pro lineup, marking a major milestone for the company and John Ternus’s first major product launch as CEO. The highly anticipated event, titled “Surprise and shine,” is scheduled for Wednesday at 1 PM ET, with the foldable iPhone expected to become one of Apple’s biggest hardware announcements in years.

According to media reports cited in the note, Apple’s foldable device could be branded either iPhone Fold or iPhone Ultra, with the base model reportedly starting at around $2,099. If accurate, that would make it the most expensive iPhone Apple has ever released, positioning the device firmly in the premium smartphone segment and potentially setting a new benchmark for Apple’s flagship pricing.
Apple is expected to introduce three new iPhones at the event, led by the iPhone 18 Pro and Pro Max, which are rumored to feature a next-generation 2nm A20 Pro chip, upgraded cameras, and iOS 27. Alongside them, Apple could finally enter the foldable smartphone market with a book-style foldable iPhone featuring dual OLED displays, 12GB of RAM, and up to 2TB of storage. The Pro models could reportedly become $150–$200 more expensive, driven largely by rising memory and storage costs, while the foldable is expected to command an even higher premium.
For investors, BofA analysts say the biggest talking points will be the foldable iPhone, higher Pro-series pricing, and Apple’s decision to delay the standard iPhone 18, iPhone 18 Air, and iPhone 18e until spring 2027. This would leave only premium iPhone models for the holiday shopping season, potentially boosting Apple’s average selling price but also encouraging price-sensitive buyers to delay upgrades. Investors will also be watching Siri’s AI capabilities and early demand for the foldable, while Apple could additionally unveil the Apple Watch Series 12, Ultra 4, AirPods 5, and new smart-home devices such as an updated Apple TV 4K and HomePod mini.
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