Apple Unveils New Era Under CEO John Ternus with Foldable Smartphone and iPhone 18 Launch

Apple has ushered in a new era under CEO John Ternus, who took over from Tim Cook on September 1. This marks the third change at the helm of the company, following Steve Jobs' departure in the 1990s.

Ternus will introduce himself and a range of new products at Apple's 'Surprise and Shine' event on September 9. The lineup is expected to feature new iPhone 18 models, including the Pro and Pro Max, as well as a highly anticipated foldable smartphone, rumored to be called the iPhone Ultra.

Analysts predict that the new foldable phone will generate $14 billion in revenue for Apple in the December quarter alone. Morgan Stanley estimates that the iPhone 18 launches will be 10% to 20% more expensive than their predecessors due to higher memory costs, while the foldable iPhone is expected to retail for over $2,000.

Apple stock has been trending upward, rising about 30% since April 1 and reaching a current value of around $319.97 per share. However, experts caution that the stock may experience some volatility due to its high valuation, trading at 37 times earnings.