Apple event expected to deliver foldable iPhone and debut of new CEO John Ternus

September 8, 2026 / 4:25 PM EDT / CBS News

Apple's annual fall product showcase is expected to deliver two firsts: the company's first foldable phone and the debut of new CEO John Ternus, who succeeded longtime leader Tim Cook on Sept. 1.

The event, which Apple is dubbing "Surprise and Shine," will start at 1 p.m. ET on Sept. 9 at its Cupertino, California, headquarters. The annual rollout gives the tech giant a chance to feature its newest devices just before they hit the shelves, typically a few days later.

Apple has a lot riding on this year's event. Sales of its trademark iPhone have been slowing, given that Americans own about 158 million of them, covering more than half of U.S. adults. Convincing consumers to upgrade their phones to pricier versions may be harder this year amid an affordability crunch for many families, who are paying more for everyday goods from gasoline to groceries.

The tech company also needs to show Wall Street that it is making strides on AI, with Apple viewed as a laggard compared with rivals like Alphabet, Melissa Otto, head of research at S&P Global Visible Alpha, told CBS News.

"The market overall has…

Original source: https://www.cbsnews.com/moneywatch/