Apple Unveils First Foldable iPhone Under New CEO John Ternus
Apple Inc.'s (NASDAQ:AAPL) highly anticipated 'Surprise and Shine' event kicked off Wednesday at the Steve Jobs Theater in Cupertino, marking a significant shift for the tech giant. For the first time in 15 years, John Ternus took center stage as CEO, following Tim Cook's transition to executive chairman on September 1.
The 'Surprise and Shine' event is expected to bring major updates, including three new iPhone models, led by Apple's first foldable iPhone. This device, reportedly priced from $2,099 and branded 'Fold' or 'Ultra', will likely carry a hefty price tag due to rising memory costs.
According to Bank of America, pro-line models will see price hikes ranging from $150 to $200, while the revamped Siri AI, built partly on a customized Google Gemini model, promises to enhance the software experience. Despite these exciting developments, history suggests that Apple's stock may not celebrate right away.
Average iPhone launch-day declines stand at 0.3%, with a median drop of 0.6%. However, the next session tends to be more promising, with shares rising 15 out of 24 times and averaging a 0.5% gain.