Apple is gearing up for a pivotal product launch on Sept. 9, where it is expected to introduce the iPhone 18 Pro, iPhone 18 Pro Max, and its first-ever foldable iPhone. The event marks the first major unveiling under new CEO John Ternus, who took over earlier this year.
The launch comes on the heels of the iPhone 17 lineup, which helped Apple gain smartphone market share despite a broader industry slowdown. Now, the company faces the challenge of sustaining that momentum while rolling out new devices and artificial-intelligence features. Apple shares have risen 18% year-to-date, adding weight to the upcoming product cycle for investors.
Premium focus and supply constraints
This year's iPhone launch is expected to deviate from Apple's usual annual refresh pattern. The standard iPhone 18 and iPhone 18 Air are reportedly not slated for the September event and could instead arrive in spring 2027. The iPhone 17 and 17 Air are expected to remain on sale until their successors debut, as Apple concentrates on its higher-end models.
Supply-chain issues are a key factor behind the staggered release. According to Counterpoint Research associate director David Naranjo, strong demand for the iPhone 17 lineup has led to semiconductor processor shortages, while a global memory shortage tied to the AI boom has driven up component costs. “The memory constraints and inflation that’s happened across the board indicates that Apple is really looking at the premium SKUs to try to maximize revenue and somewhat protect their margins,” Naranjo told MarketWatch.
This strategy could also appeal to customers who are less price-sensitive. Apple has so far avoided raising prices on its core iPhone lineup, with the iPhone 17 starting at $799. Morgan Stanley analyst Erik Woodring has speculated that Apple could raise prices by $200 across the iPhone 18 lineup, while Jefferies analyst Edison Lee has cautioned that pricing decisions could affect sales volumes and profitability in the coming quarters.
Foldable iPhone: A new growth driver?
The most anticipated product is likely to be Apple's first foldable iPhone, possibly branded as the iPhone Ultra. This would mark Apple's first new iPhone form factor since the iPhone X in 2017 and would place it directly in competition with foldables from Samsung and Huawei.
Industry estimates suggest the foldable could start at around $2,000, with higher-storage versions potentially reaching $3,000. Prediction-market traders on Polymarket have assigned an 87% probability to a starting price of at least $2,000, with the most likely price range between $2,200 and $2,300. Reports indicate the device could feature a book-style design, with an outer display of 5.3 to 5.5 inches and an inner screen of 7.6 to 7.8 inches. Other rumored features include a titanium frame, an ultra-thin profile, and a display designed to minimize the visible crease.
According to Naranjo, the foldable is expected to serve as a premium “halo product,” potentially creating a new upgrade cycle and expanding Apple's addressable market. For more on the supply hurdles, see our earlier report on foldable output challenges.
AI and pricing: The stock test
Artificial intelligence will also be a central theme. Apple is expected to introduce a revamped Siri powered by Apple Intelligence, following delays to features originally announced in 2024. Apple Intelligence combines on-device processing, Apple's Private Cloud Compute, and third-party models, with user permission for more complex requests. The upgraded Siri is designed to synthesize information across messages, emails, and photos, and perform multistep actions across apps.
The company has increased memory capacity in its devices to support these capabilities, adding to supply-chain pressures. Anshel Sag, principal analyst at Moor Insights & Strategy, said in a MarketWatch report that Apple previously “overpromised and massively underdelivered” on its AI ambitions. He added that a new CEO with a stronger product focus could help Apple navigate changing expectations around AI and new device formats.
The iPhone 18 Pro models are expected to feature the A20 Pro chip based on a 2-nanometre process. Apple is also expected to unveil new Apple Watch models and AirPods updates at the event. For investors, the launch will provide an early test of whether Apple's premium-focused strategy can sustain the momentum generated by the iPhone 17 lineup. Pricing, availability, AI capabilities, and the reception of the foldable could all influence expectations for Apple's next stage of growth. As the event nears, shares have edged higher, reflecting optimism. However, analysts are watching closely to see if the company can deliver on its promises.
This article is for informational purposes only and does not constitute financial advice.
