Apple's New CEO Faces His First Product Launch Today — Here's What's Expected

Apple Inc. (NASDAQ:AAPL)/a> is trending ahead of a product event today, Wednesday, where the company is expected to unveil a foldable iPhone and updated iPhone Pro Max models. The event kicks off at 1 p.m. ET from Cupertino, California.

li>Apple stock is trading near recent highs. What's ahead for AAPL stock?/li>

What to Expect: Foldable iPhone Duo and More

According to Bloomberg, Apple is expected to debut a foldable smartphone called the iPhone Duo, starting at $2,000, with higher-capacity versions reaching roughly $3,000. The device will reportedly feature a short-and-wide design, Apple's new in-house C2 modem, the A20 Pro chip, dual rear 48-megapixel cameras, and support for the Apple Pencil. The Duo is expected to go on sale as early as October in white and dark blue.

The event will also introduce the iPhone 18 Pro and Pro Max, which are expected to retain last year's design while adding a mechanical aperture camera system, the A20 Pro chip, longer battery life, and a revamped vapor chamber. Apple is reportedly raising prices on the iPhone 18 Pro and Pro Max by $100 per model. New Apple Watch Series 12 and Ultra 4 models, along with a lower-cost AirPods 5, are also expected to be unveiled.

A New Era for Apple

The event marks the first major product launch under new CEO John Ternus, who succeeded Tim Cook on September 1. Cook, who led Apple's annual revenue to nearly half a trillion dollars and oversaw a roughly 2,300% stock gain during his tenure, now serves as executive chairman and is expected to attend the event without presenting.

A Bullish Long-Term Trend Ahead of the Event

Apple is currently positioned above its key moving averages, which suggests a bullish trend in the longer term. The 20-day SMA is slightly above the 50-day SMA, indicating some short-term weakness, but the 50-day SMA remains above the 200-day SMA, reinforcing a positive long-term outlook.

The RSI is at 49.05, indicating a neutral momentum phase for Apple's stock. This level suggests that the stock is neither overbought nor oversold, which could mean it has room to move in either direction.

MACD is above its signal line, indicating bullish momentum for Apple. This positioning suggests that traders might look for potential upward movement, especially if other indicators align.

Key support is at 300.50, while resistance is at 317.50. If Apple's stock breaks above the resistance level, it could signal a continuation of the upward trend, whereas a drop below support might indicate a reversal.

Apple's stock has not experienced a golden cross or death cross recently, but the current moving averages indicate a generally strong trend. The 50-day SMA's position above the 200-day SMA supports a bullish long-term outlook.

Looking at the 12-month performance, Apple has gained 31.82%, reflecting a solid upward trend over the past year. This performance highlights the stock's resilience and potential for continued growth in the longer term./p> div class="bz-read-next-block" data-variant="card" data-news-mode="manual" >

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Apple Shares Trade Flat

AAPL Price Action: At the time of publication, Apple shares are trading at $316.21, according to data from Benzinga Pro.

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