Apple Unveils First Foldable iPhone with Price Tag of $2,099

Apple is set to unveil its first foldable iPhone at an event dubbed 'Surprise and shine' on Wednesday at 1pm ET, marking John Ternus's first major product launch as CEO. The device, which could be named Fold or Ultra, will reportedly start at $2,099 for the base configuration, making it Apple's most expensive iPhone to date.

The event is expected to feature three new iPhones: an updated 18 Pro and Pro Max with a 2nm A20 Pro chip and camera upgrades, as well as a book-style foldable with dual OLED displays, 12GB RAM, and up to 2TB storage. The iPhone 18 Pro and Pro Max may see price increases of $150 to $200 due to elevated memory and storage costs.

BofA analysts pointed out that the key focus for investors will be the foldable iPhone, potential price increases across the Pro line, and Apple's decision to shift its lower-priced iPhone 18 models to spring 2027. They also noted a pattern of 'sell the news' reactions in Apple shares following past launch events, with a modest pullback typically followed by a recovery over the subsequent 30 to 60 days.