Apple's iPhone Launch Seen as Make-or-Break Moment for Tech Giant

Apple's upcoming iPhone launch on September 9 is considered the 'most consequential' event for the company in a decade, according to Morgan Stanley analyst Erik Woodring. The event, dubbed 'Surprise and Shine,' will mark a significant change in Apple's leadership as new CEO John Ternus takes the stage instead of Tim Cook.

Woodring notes that the launch will follow a similar format to past years, with a 90-minute presentation introducing new devices. However, this time around, consumers can expect more than just incremental updates. The analyst predicts that Apple will unveil its first foldable iPhone, which may be called the 'iPhone Fold Ultra.'

The introduction of a foldable device is expected to coincide with significant price hikes for the iPhone lineup, potentially ranging from $200 to $500, depending on the model. The top-end iPhone could cost over $3,000. Additionally, Apple will likely announce an artificial intelligence-enabled Siri digital assistant for the new iPhones.

AAPL stock has gained 18% this year and currently carries a consensus Moderate Buy rating among 27 Wall Street analysts. However, with an average price target of $330.82, investors may face a 3% downside from current levels if they decide to buy in.