Apple’s First Launch Under New CEO Set for Sept. 9, With Foldable iPhone in the Spotlight

Apple’s first major product event under John Ternus will take place on Sept. 9, with a foldable iPhone potentially becoming the star of the show.

The event, titled “Surprise and Shine,” will mark Ternus’s first major appearance as Apple’s chief executive. He took over on Sept. 1 after Tim Cook led the company for 15 years. Apple is expected to present its new iPhone generation, including the iPhone 18, iPhone 18 Pro and iPhone 18 Pro Max.

The biggest anticipation surrounds a product Apple has not officially confirmed: its first foldable iPhone. Reports in the specialist press suggest it could be called the iPhone Ultra and cost more than $2,000, potentially making it one of Apple’s most expensive phones. The company may also unveil new Apple Watch, MacBook, iPad and AirPods models, along with a new Home Hub device.

The event comes after a strong period for Apple shares. The stock has gained about 8% over the past month, around 30% since the beginning of April and approximately 21% since the start of the year. Analysts note that shares often rise ahead of major launches, but investors can sell after the presentation in a pattern known as “buy the rumor, sell the news.”

Apple is trading at roughly 37 times earnings, pointing to a high valuation and leaving room for a correction if its results or outlook disappoint investors. In the quarter ending in June, the company reported revenue of nearly $109 billion, up 16% year on year, while profit rose 27% to $29.4 billion. iPhone revenue reached $54.2 billion, up 22% from the previous year. Apple expects overall growth to slow to about 9% to 11% in the quarter ending in September, although it anticipates double-digit iPhone growth. The new phones could also cost 10% to 20% more than equivalent iPhone 17 models.