Apple Unveils Foldable iPhone and iPhone 18 Pro Series at Keynote

Apple is introducing its first foldable iPhone and updated iPhone 18 Pro series on September 9, along with the new A20 Pro processor. AAPL shares ended trading 1.17% lower at $316.22 before the event began.

This keynote is the first significant hardware launch since John Ternus became CEO on September 1, replacing Tim Cook. The design overhaul is Apple’s most dramatic since the iPhone X debuted in 2017.

What Apple Is Expected to Show

This year, Apple has skipped the standard iPhone 18, delaying it until spring 2027. The autumn lineup instead centers on the foldable iPhone at Ternus’s keynote debut, alongside the iPhone 18 Pro and the iPhone 18 Pro Max.

All three models are expected to use the new A20 Pro chip, which Apple has linked to on-device Siri AI enhancements.

The foldable, which has been widely reported to open like a book, follows increases in iPhone 18 Pro costs due to higher memory prices. Analysts believe this cost pressure will drive its retail price above previous models.

AAPL Stock Slips Ahead of the Keynote

Apple stock dropped to $316.22 on Tuesday but still trades near the high end of its 52-week range. HSBC maintained a Buy rating and a $366 price target before the event, while Citi forecast 7.3 million foldable iPhone unit sales even with a price around $2,000.

The release also comes amid new Chinese competition. Huawei introduced its tri-fold Mate XT2 on September 7, using its own Kirin 9050 Pro chip, with prices from $2,980 to $3,725. Xiaomi debuted its passport-sized 18 Fold on the same day, starting at roughly $1,540.

Huawei Executive Director Richard Yu said pricing has become challenging as memory costs rise.

“Pricing right now is a real challenge, because memory costs have risen sharply. We adopted a lot of new technology, and the cost pressure has been enormous.”

In China’s smartphone market last quarter, Huawei held the lead with a 22.6% share. Apple had 18.1% and Xiaomi had 12.4%, while Huawei also accounted for the majority of foldable shipments in the country.

How much Apple’s move changes that dynamic may rely less on the specs announced today than on how Ternus sets the pricing and positioning against established competitors.