Apple Unveils Foldable iPhone with Higher Prices and In-House Modems

Apple has finally unveiled its foldable iPhone at an event, which also saw the introduction of a new CEO and higher prices for existing models. The new phone features a C2 modem, marking Apple's continued shift away from Qualcomm.

The iPhone 18 Pro boasts this new technology, while the Pro Max model is still using the older Qualcomm chips. This move towards in-house modems is likely to reduce Apple's dependence on external suppliers.

However, the foldable iPhone comes with a hefty price tag of $1,999 for each device. Additionally, J.P. Morgan maintains its buy rating for Apple (AAPL.US) stock with a target price of $340.