Apple event 2026: Folding iPhone Duo, iPhone 18 Pro, added AI features and more

Big shoutout to all the readers who joined us today. Thanks for hanging out and following along with the latest announcements from Apple.

We'll have more coverage of Apple's announcements on CNBC TV with analyst and trader reactions. Watch in real time on CNBC+ or the CNBC Pro stream.

Apple just unveiled the C2 modem, which will power connectivity inside the folding iPhone Duo.

This is the second-generation modem Apple has made in-house, in a move that further reduces reliance on cellular modem leader Qualcomm.

"With our fully integrated approach, it's optimized to improve everyday user experiences, including using AI algorithms to improve cellular reliability, like reconnecting faster in low coverage areas," Johny Srouji, Apple's chief hardware officer, said in the keynote video.

C2 is 50% faster than Apple's previous modem, and adds 5Gmm support in the U.S. while running at 15% lower energy, according to Srouji.

Chip analyst Ben Bajarin told CNBC in an interview that Apple will likely eliminate Qualcomm chips altogether in next year's iPhone 19 line.

—Katie Tarasov

Apple's new introductions, including Siri AI and the iPhone Duo, failed to impress markets. For almost the entire duration of the near-80-minute presentation, the company's stock price was down.

Opening at $315.49 today, it popped briefly to $318 and then quickly dropped.

Year-to-date, the stock is up about 15%.

— Isabel O'Brien

Apple said its iPhone duo will cost $1,999, in line with competitors and lower than much of what Wall Street was expecting.

It will hit store shelves on Oct. 23.

— Kif Leswing

Apple's marketing chief Joswiak said that the outer display of the Duo was 90% the screen area of the iPhone 18 Pro, and the inner display is 7.6-inches.

The phone will use a fingerprint sensor built into the side button for unlocking. Its case is made out of titanium.

Craig Federighi, senior VP of Software Engineering, said that Apple had redesigned much of its iOS software to take advantage of the two screens, moving buttons and other controls. Users can multitask with two apps at the same time and can use Apple's stylus called Pencil.

"We looked at every aspect of iOS to see how we could make it even more useful on iPhone Duo," Federighi said.

—Kif Leswing

It's official, Apple is making a foldable phone.

"For a device that plays such a central role in your life, a larger display would open up entirely new possibilities," Ternus said. "We think the best way to achieve that is with a foldable design."

He said that other foldables feel like "two phones awkwardly stuck together."

Apple's phone is about the size of a passport and has an internal and external screen.

— Kif Leswing

Apple Watch did not get a price increase. Series 12 will cost $399 and up, and the Ultra 4 starts at $799. Apple also announced a new version of the Apple Watch with a ceramic case.

— Kif Leswing

Apple is making its Apple Watch Series 12 into an AI device with a new feature called Audio Intelligence.

The feature will use the Apple Watch's microphone to record conversations and allow the user to review things that were just said.

"We've all been in situations where you've missed a key detail of what someone just said and wished you could go back. Now you can use live rewind, which lets you go back in time for 15 seconds," said an Apple representative in the video.

It will also be able to summarize your important conversations with a feature called Siri Recap.

"It uses ambient listening to take high-level notes of your conversations, like takeaways from a team meeting or a parent-teacher conference. Conversations will have an Apple Intelligence-generated title, summary, and key points," Apple said.

Apple said the feature would be private and would not store audio recordings or share them with Apple.

The features will be available in beta later this year.

— Kif Leswing

Apple redesigned a lot of the health features in its Health iPhone app with AI-powered coaching.

"Each morning, Apple Watch analyzes your recent activity, vitals, and sleep to give you one score with a clear call on your body's capacity to take on the day," Apple's Sumbal Desai said.

It's expected to launch later this year.

— Kif Leswing

Apple unveiled its new A20 Pro system on a chip for iPhone 18 Pro. It's the first high-volume smartphone processor to be made on Taiwan Semiconductor 2 nanometer, the leading chip manufacturer's most advanced node. While 2nm chips can only be made in Taiwan, Apple has committed to make some iPhone chips on TSMC's new fabs in Arizona, too.

The A20 Pro is meant to optimize AI on-device, as Apple races to catch up in the AI race by relying on the security and privacy of avoiding the cloud. The A20 Pro is a system on a chip, or SoC, with central and graphics processors and memory integrated together, and it has a dedicated AI accelerator Apple calls a Neural Engine, to optimize that AI on device.

The A20 Pro has a six-core CPU that Apple said runs up to 20% faster, with neural accelerators to power low-latency on-device AI workloads. Its new GPU has seven cores for up to a 40% increase in performance.

Memory took a big leap too, with a 50% increase in bandwidth and what Apple said is the "widest memory interface we've ever shipped in an iPhone." Apple got there by redesigning the chip to place the core logic silicon side-by-side with the memory chips.

Memory optimization is key in the midst of a global memory shortage, as all the biggest players race to secure memory supply from giants SK Hynix, Samsung and Micron. It's also why Apple raised prices on MacBooks and iPads in June.

—Katie Tarasov

Apple announced new AirPods models called AirPods 5.

These new devices have a longer battery life and have active noise cancellation, which previously wasn't available on the least expensive AirPods. They cost $129, and there's a version with wireless charging that retails for $149.

—Kif Leswing

iOS 27 will include a new feature that allows customers to use a single phone number across multiple devices, dubbed "iPhone Handoff."

According to Kaiann Drance, vice president of iPhone Marketing, "the number is instantly active on whichever iPhone you pick up."

She added that the feature will launch with T-Mobile and Deutsche Telekom, with Verizon and EE adding support by the end of the year. More carriers will follow.

— Isabel O'Brien

Apple's new phones will get a price increase amid a global component shortage, especially for memory.

The iPhone 18 Pro will start at $1199, Apple said. That's $100 more than last year's iPhone 17 Pro.

The iPhone 18 Pro Max will start at $1299, which is also a $100 hike.

The phones go on pre-order on Saturday and will ship on Sept. 18.

— Kif Leswing

Apple introduced a new feature that will enable users to confirm that a photo was taken by an iPhone camera, instead of generated by AI. The feature is called Apple Reference Image.

"Now you can prove the authenticity of a photo taken on iPhone 18 Pro. Apple Reference Image starts in the most secure way possible with the sensor. The new main camera securely signs photo data at a pixel level right at the time of capture," an Apple presenter said.

The feature won't be available in the EU or China.

— Kif Leswing

One of the big improvements to Apple's iPhone cameras is that they now come with physical shutters that can be controlled to control depth of field, focus, and bokeh.

"To create variable aperture, we developed a system of six laser-cut blades, each thinner than a human hair," Apple VP Kaiann Drance said.

— Kif Leswing

Apple is emphasizing improved battery life as a major selling feature of the devices. The smaller iPhone 18 Pro gets 24 hours of battery life, and its bigger sibling can manage 30 hours on a single charge.

— Kif Leswing

Siri AI was announced in June to lackluster reception. Finally, it has made its debut.

In a promotional video, the company claims that this new version of Siri is an "entirely new version of Siri" and "can take action in the apps you already use, including third-party apps."

Apple claims Siri AI works with over 300,000 apps.

— Isabel O'Brien

Apple said that it redesigned the cores on its newest iPhone chip, called A20 Pro, which will ship with the new iPhone Pro. It said its redesigned cores are "desktop class" and will make artificial intelligence faster.

Apple also boasted that it is a 2nm chip. That means it's the first smartphone in the world to use the latest TSMC manufacturing technology.

— Kif Leswing

Apple got its first product launch out of the way quickly.

The new iPhone 18 Pro looks a lot like last year's 17 Pro, but comes in two new colors: glacier and burgundy. It's also coming in a larger, "Max" version.

"We made massive advancements in the most important areas: intelligence, performance, battery, and camera," Ternus said.

— Kif Leswing

Ternus opened his first iPhone launch as CEO with a speech about how he sees artificial intelligence and what those kinds of devices need to be. It was reminiscent of Steve Jobs' original launch of the iPhone by describing first what a perfect device would have, then saying that it's the iPhone.

"Now, if you were designing the ideal version of this hub from scratch, how would you do it? Well, first, you would want something that is always with you, deeply personal, and able to bring intelligence to the moments when it matters most," Ternus said.

"Today, we're going to take these experiences even further with the next generation of iPhone," he added.

— Kif Leswing

New CEO John Ternus took the stage for the first time as chief executive on Wednesday. He got a standing ovation from the crowd that lasted for at least 30 seconds.

"We're going to continue changing the world in ways we can't even imagine today," he said in brief remarks.

— Kif Leswing

There are quite a few of y'all hanging out with us today, so welcome!

Stand by as this party gets set to begin.

Former CEO Tim Cook is in Apple Park to watch Ternus' debut. Apple's now-executive chairman is wearing a grey ensemble and a button-down shirt without a tie.

Other notable Apple executives in attendance include marketing chief Greg Joswiak, software head Craig Federighi, services chief Eddy Cue, COO Sabih Khan and former hardware chief Dan Riccio.

—Kif Leswing

—Kif Leswing

Apple's prices are in focus after Cook said increases were "unavoidable" during a global shortage of computer parts, especially memory.

Folding phones are also more expensive than typical phones because of the increased cost for the folding screen and the hinge. Samsung's Z Fold 8 retails for $1,900. Analysts say Apple's customers are affluent and may be willing to pay even more for the company's biggest iPhone redesign in nearly a decade.

Market researcher IDC says it expects an Apple folding phone to cost $2,500 or more. Meanwhile, JPMorgan Chase analysts see Apple's foldable costing at least $1,999 when it comes out. At those prices, the phone would cost more than many of Apple's laptops.

Analysts widely believe that would lead to lower sales volumes than for Apple's traditional iPhones.

"The widely anticipated launch of the foldable iPhone will be less influential on unit outcomes, but more so drive investor confidence in the company's ability to stand up and deliver success with a new premium device," JPMorgan analyst Samik Chatterjee wrote earlier this month.

— Kif Leswing

Apple shares slipped on Wednesday, dropping for a third straight day and fourth in five, as investors prepared to be underwhelmed.

Analysts at KeyBanc Capital Markets wrote in a note last week that the launch event is "likely a negative catalyst for shares," because a large increase in prices would hurt volume sales while a minimal change would amplify the "focus on gross margins."

The firm is one of the very few tracked by FactSet with a sell rating on Apple.

The stock is still up 15% for the year, slightly outperforming the Nasdaq.

— Ari Levy

Based on past launch dates, Apple's new iPhone typically hits store shelves on the Friday that comes the week after the keynote. This year, that would be Sept. 18. Apple typically opens preorders on its website and at retail partners about a week before that.

— Kif Leswing

Ternus took to X on Wednesday morning to make his second-ever post to the platform.

The new Apple CEO shared a vague, 14-second video showing a light shining on, well. something.

His first post, made on Sept. 1, said "hello."

—Chris Eudaily

Apple's fiercest rivals for smartphone sales in China are reacting to the launch, even before it's started, CNBC reported this week.

Huawei and Xiaomi both announced new foldable phones on Tuesday. Xiaomi introduced the 18 Fold, a passport-sized device, and Huawei unveiled the Mate XT2, a trifold smartphone.

Foldable phones remain a very small part of the overall smartphone market, or about 2.2% of unit shipments so far this year, according to IDC. Huawei is currently the dominant player, especially in China, where it controls nearly 80% of the market. But Apple's potential debut is expected to energize the entire category.

— Kif Leswing