Apple is set to host its highly anticipated annual hardware event this Wednesday in Cupertino, marking a significant milestone as John Ternus leads his first major keynote since taking over as CEO from Tim Cook earlier this month. Having spent over two decades climbing the ranks within Apple’s design and engineering divisions, Ternus faces immediate pressure to deliver. The spotlight will be firmly on the rumored "iPhone Ultra," a foldable device that represents Apple’s long-awaited entry into a niche market currently dominated by Samsung. With a reported starting price of $2,000, this foldable smartphone aims to bridge the gap between pocket-sized convenience and tablet-like screen real estate, potentially reshaping the luxury smartphone landscape.

Beyond the foldable hardware, the event serves as a critical test for Apple’s ability to drive consumer excitement in an era defined by supply chain constraints and an ongoing artificial intelligence boom. Industry analysts suggest that while foldable devices currently account for a small segment of global shipments, Apple’s entry could capture a massive share of the market within a few years. Meanwhile, reports indicate that Apple may skip an entry-level iPhone 18 this year, focusing instead on high-end Pro models and integrating advanced AI-powered enhancements into its ecosystem, including refreshed wearables and a potential new smart home hub device.