Apple Prepares to Unveil Foldable iPhone and Other New Devices at Upcoming Launch Event

Apple's product launch event, 'Surprise and Shine,' is set to take place on Wednesday under new CEO John Ternus. The company will unveil several products, including the iPhone 18 Pro and Pro Max, powered by a new A20 Pro chip built on a 2-nanometer process.

The new iPhones won't stray far from last year's design, but the Pro Max may get a size and weight bump for a larger battery. Apple will also introduce the Apple Watch Series 12 and Ultra 4 models.

The real talking point is the company's first foldable phone, rumored to be called the iPhone Ultra. It will fold like a book, about 5.5 inches closed and 7.6 inches open.

Year-to-date, Apple shares have risen 18%, outperforming peers like Alphabet and Microsoft. However, investors may wonder if now's the time to buy given the recent gains and upcoming launch.