Apple tech showcase today expected to unveil foldable iPhone

Apple is gearing up to unveil its next generation of iPhones today at its annual fall showcase, taking place at its headquarters in Cupertino, California. The event, dubbed "Surprise and Shine" by Apple, commences at 1 p.m. ET and can be streamed on the company's events page or YouTube page. Industry insiders predict that the highlight of the showcase will be Apple's first foldable iPhone, possibly named the iPhone Ultra, with a rumored price tag of around $2,000.

Dan Ives, an analyst at Yorkville Ives & Co., expressed optimism about the foldable's potential success, stating that it's "the right time to go after the new hardware chapter under Ternus." The company is also expected to unveil the iPhone 18, the latest iteration of its smartphone, which will likely come with a higher price due to a global memory chip shortage.

Investors are keen to learn about Apple's strategy in artificial intelligence during the event, as the tech giant has been perceived as lagging behind competitors like Alphabet. Earlier this year, Apple made significant strides in AI, including upgrades to its Siri assistant, focusing on privacy and everyday applications. Forrester analyst Dipanjan Chatterjee emphasized that Ternus' keynote will set the tone for his vision of Apple's future, noting that he must extend the success story initiated by Tim Cook to maintain the company's leadership in consumer technology.