Apple is gearing up for its annual iPhone launch event this Wednesday, an occasion that will also feature the first public appearance of its newly appointed CEO, John Ternus, who took over from Tim Cook on September 1. There is widespread anticipation in the market that Apple will introduce its inaugural foldable iPhone at this event, aiming to challenge Samsung and other competitors in the foldable device arena. The price for this innovative product is expected to surpass $2,000.

In addition to the foldable iPhone, Apple is set to release the iPhone 18 Pro series, which will incorporate a new A-series chip and enhanced camera capabilities. However, the design is not anticipated to undergo major changes. Reports indicate that the launch of the standard iPhone 18 might be postponed until early next year, a strategic move that is viewed as a significant shift in Apple’s approach to managing quarterly revenue volatility.

Furthermore, a new iteration of the Apple Watch will make its debut, featuring improvements in both internal hardware and software. Currently, smart rings from brands like Oura and Samsung are exerting competitive pressure on Apple’s fitness and health market, adding to the anticipation surrounding Ternus’s performance at the event.

As of 12:04 PM Eastern Time, Apple’s stock price was recorded at $316.00, marking a decrease of $3.97 or 1.24% from its previous closing price. Despite the premium pricing of the foldable iPhone, it is projected to attract consumers eager for novel device formats, potentially generating substantial revenue for Apple.