1 hour ago
1
Tim Cook took the stage at Apple Park on June 8 for what turned out to be his farewell keynote as CEO. WWDC 2026 was heavy on artificial intelligence, light on hardware, and loaded with subtext about where the company is headed next.
The biggest headline: Siri got rebuilt from the ground up. The biggest subtext: code inside iOS 27 suggests Apple is preparing for a foldable iPhone launch later this year, with leaked pricing in the $2,000 to $2,500 range.
Siri AI and the software overhaul
Apple introduced what it’s calling Siri AI, a completely revamped version of its digital assistant that now lives in its own dedicated app. The new Siri is designed to be more conversational and context-aware.
Beyond Siri, Apple Intelligence features were expanded across several core applications. Safari, Messages, and Photos all received AI-powered upgrades as part of iOS 27 and macOS 27.
The company also revealed it’s collaborating with Google to enhance its AI offerings.
The foldable iPhone hiding in the code
No new hardware was announced during the keynote. The iOS 27 beta contains references to “foldState” and “angleDegrees,” developer-facing terms that strongly suggest support for foldable devices.
The foldable iPhone is expected to launch alongside the iPhone 18 lineup in fall 2026. Leaked pricing puts the device somewhere between $2,000 and $2,500, which would make it the most expensive iPhone ever released by a significant margin.
Tim Cook’s exit and the leadership transition
Cook announced he will step down as CEO effective September 1, 2026, transitioning to the role of executive chairman. John Ternus, who has led Apple’s hardware engineering division, will take over as chief executive.
Cook has been CEO since August 2011, when Steve Jobs handed him the reins weeks before his death. In the 15 years since, Apple’s market capitalization has grown from roughly $350B to become the most valuable company in the world.
What this means for investors
The foldable iPhone presents a different kind of calculus. At $2,000-$2,500, Apple is clearly not targeting mass adoption in year one. This looks like a halo product designed to showcase engineering capability and capture the highest-spending segment of the smartphone market.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
English (US) · 