Apple's Foldable iPhone Tipped for September Launch at Over $2000

Apple's upcoming foldable iPhone is expected to launch around September 9 and will be priced over $2,000. According to a Bloomberg report, the device will lack a telephoto camera and Face ID authentication, instead using Touch ID for security. The larger internal display will support iPad-like app layouts when unfolded.

The phone's advanced hinge mechanism has been praised by those who have used it, making it durable and pocketable. However, the absence of a telephoto camera may be a drawback for buyers expecting Apple's most expensive iPhone to offer its most advanced camera system.

Analysts are optimistic about the device's potential success, with Rothschild & Co Redburn upgrading AAPL stock to 'Buy' from 'Neutral' and raising its price target to $400. The research firm expects iPhone sales to grow 12% annually through 2030 due to Apple's entry into the foldable market.