Apple’s New CEO John Ternus Takes the Stage Wednesday to Unveil the First Foldable iPhone

Apple Inc. (NASDAQ: AAPL) opens a new chapter on Wednesday as CEO John Ternus headlines his first annual iPhone launch event. Ternus, who succeeded Tim Cook on Sept. 1, is widely expected to introduce the company’s first foldable iPhone alongside refreshed iPhone 18 Pro models and an updated Apple Watch lineup.

Key Points

• John Ternus leads his first product keynote since taking over as Apple CEO on Sept. 1.
• Apple is expected to debut its first foldable iPhone, with reports pointing to a price above $2,000.
• The iPhone 18 Pro should arrive with a new A-series processor and camera upgrades, including an improved aperture.
• Apple may delay its base iPhone 18 to early 2027, splitting a launch cadence it has kept for years.
• The Apple Watch Series 12 and Apple Watch Ultra 4 are also expected, as competition in health tracking intensifies.

The Foldable Finally Arrives

Bloomberg’s Mark Gurman reports that Apple’s foldable will adopt styling similar to other leading foldables on the market, and that it will carry a price tag that could exceed $2,000. For context, Samsung (KRX: 005930) starts its passport-style Galaxy Z Fold 8 at $1,899 and the higher-end Z Fold 8 Ultra at $2,099.

That price will deter plenty of buyers. Even so, the math can still work in Apple’s favor. Because the device carries a premium margin, converting even a fraction of the company’s loyal installed base would move the needle — and a foldable gives customers a genuine alternative to the candy-bar design Apple has shipped for nearly two decades.

Apple shares wavered ahead of the event, closing at $316.22 on Sept. 8, down 1.17%.

What Else to Expect From the iPhone 18 Line

Apple is also expected to show off its iPhone 18 Pro models. Those phones will likely carry the company’s newest A-series processor plus camera improvements, including an upgraded aperture that gives users more control over lighting. However, buyers shouldn’t expect a redesign: Apple refreshed the Pro look with the iPhone 17, so major cosmetic changes are unlikely this cycle.

The bigger question is timing. Enthusiast site MacRumors, citing Economic Daily News, reports that Apple could hold the base iPhone 18 until early next year and launch it alongside the iPhone 18e and a second-generation iPhone Air.

That would mark a meaningful shift in strategy. Apple has traditionally launched its base and Pro models together each fall. Splitting them, though, would spread sales across a broader window and smooth out the seasonal lumpiness that has long defined Apple’s revenue curve — a change investors would notice in the quarterly numbers.

Wearables Face Rising Competition

Beyond the phones, Gurman reports that Apple will introduce the Apple Watch Series 12 and Apple Watch Ultra 4, both of which should get internal hardware updates and software improvements.

Meanwhile, the health and fitness category is getting crowded. Oura continues to push its ring tracker, and Samsung sells a competing ring line of its own. As a result, Apple faces pressure to evolve both its hardware and its software so it doesn’t lose users who want more from the devices they already wear.

The Bottom Line

Ternus inherits a company that still sells hundreds of millions of phones a year, and his first keynote sets the tone for how he intends to run it. A $2,000 foldable, a possible split iPhone launch calendar, and a wearables lineup under real competitive pressure make Wednesday’s event less a routine refresh than an early read on the post-Cook era at Apple (NASDAQ: AAPL).