Apple to unveil foldable iPhone and iPhone 18 at fall showcase

Apple is expected to unveil its first foldable iPhone, potentially named the iPhone Ultra, at its annual fall showcase today, alongside the iPhone 18 and other device upgrades. The event, dubbed "Surprise and Shine," starts at 1 p.m. ET in Cupertino, California. The foldable phone could cost about $2,000, according to Bloomberg, and analysts see it as a major opportunity for new CEO John Ternus, who succeeded Tim Cook earlier this month. The iPhone 18 will likely be pricier due to a global memory chip shortage, with investors also watching for Apple's AI plans. Ternus's keynote is seen as setting the tone for his leadership, with analysts noting he inherits a highly successful company but faces high expectations to extend its run. Apple has previously emphasized privacy-focused AI upgrades to Siri as it tries to catch up with rivals.