What investors should expect at Ternus’s first iPhone launch as CEO

Investing.com -- Apple will hold its "Surprise and shine" event Wednesday, and Bank of America says investors will focus on the company's first foldable iPhone, potential price increases and a shift in launch timing at what will be John Ternus's first product event as chief executive.

Analyst Wamsi Mohan, who has a Buy rating and $380 price target on Apple, said the key areas of attention will be the foldable iPhone, meaningful price rises across the Pro line and the decision to move lower-priced iPhone 18 models to spring 2027.

Media reports indicate the foldable device, likely called Fold or Ultra, will start at $2,099, making it Apple's most expensive iPhone. Mohan expects the 18 Pro and Pro Max to see price increases of $150 to $200 because of higher memory and storage costs.

Mohan noted that pushing the base iPhone 18, 18 Air and 18e to spring would mark a significant change from Apple's usual cadence, leaving only premium models on sale during the holidays.

"The split launch could support mix and ASPs but creates some risk that price-sensitive consumers defer upgrades until the lower-priced models arrive," Mohan wrote, referring to average selling prices.

He also noted Apple shares have often shown a modest "sell the news" move right after events before recovering over the following 30 to 60 days.

Beyond the three iPhones, Mohan said Apple could unveil the Apple Watch Series 12 and Ultra 4, AirPods 5 and updated smart-home products. All three new iPhones are expected to ship with iOS 27.

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