UPDATE—Sept. 9, 2024: This article has been updated to reflect more recent share price information.

Apple's (AAPL) "It’s Glowtime" event will kick off at 1 p.m. ET Monday, with the company widely expected to unveil the iPhone 16 supercharged with 澳洲幸运5官方开奖结果体彩网:artificial intelligence (AI) capabilities. Investors will also likely be watching for pricing and hardware differences in the new iPhone compared to previous models, and possible next-generation ⛦wearable products like AirPods and the Apple Waꦉtch.

Apple Intelligence Features

AI-supercharged Siri is likely to be a key focus of the event, with Apple's announcement for "It’s Glowtime," displaying the company's logo in the style of the 澳洲幸运5官方开奖结果体彩网:glowing aura of Apple's💛 Siri interface.

Apple announced its newest operating system, iOS 18, and Apple Intelligence, at its 澳洲幸运5官方开奖结果体彩网:developer conference in June, where the company said the intelligent system♈ will help Siri understand more natural speech patterns, use personal context from on-device content, and accept ty🎃ped prompts, among other AI-powered capabilities.

The iPhone maker has also announced a 澳洲幸运5官方开奖结果体彩网:partnership with Microsoft-backed (MSFT) OpenAI to integrate ChatGPT into iOS 18 later this year. Apple Intelligence is 澳洲幸运5官方开奖结果体彩网:expected to roll out after the initial iOS 18 launch, b𓆏ut the company could demo some of the AI features to come at th♎e event, showing investors how the iPhone maker is integrating the technology.

Next-Generation iPhone Upgrades

Apple is expected to release four models of the next-generation iPhone—the iPhone 16, the iPhone 16 Plus, the iPhone 16 Pro, and the iPhone 16 Pro Max. The new models, particularly the Pro models are expected to have significant upgrades to the device hardware including battery life and displays, as well as other features, Bernstein analysts indicated.

Improvements to battery life could be especially appealing to users as AI features require increased computing power. Morgan Stanley analysts said they "believe a strong battery upgrade can help to drive old device refreshes given battery life is one of the key reasons users historically upgrade an iPhone."

The base iPhone 16 models are expected to have similar designs and display 🀅sizes to the iPhone 15, while the Pro models are expected to be larger than their predecessors at 6.3 and 6.9 inches for the 16 Pro and 16 Pro Max, respectively, marking the first size upgrade in several years.

The new iPhones are expected to run on the A18 chip, the next generation of Apple's silicon chips, which will likely be designed to handle Apple Intelligence workloads.

The new device's camera will also likely be in focus with CFRA analysts expecting an ultra-wide 48-megapixel camera and potentially a shutter button for capturing photos.

New iPhone Models' Pricing To Mirror That of Predecessors

The iPhone 16 models are expected to be priced like their iPhone 15 counterparts when they were launched, but analysts noted that AI capabilities could be a "wildcard" in pricing.

Analysts expect the iPhone 16 base model to start at $799 while the lowest storage option of the iPhone 16 Max could cost around $1,199, the same range as the 澳洲幸运5官方开奖结果体彩网:iPhone 15 when it was released around the same time last꧂ year.

Morgan Stanley analysts said that while they don't expect Apple to raise iPhone prices from their levels last year, the possibility of a price increase still exists, though they view potential price hikes as "a net negative for Apple given it would likely drive some upgraders to extend the useful life of their iPhone for another year."

Possible Next-Gen AirPods and Apple Watches

The iPhone maker could also unveil new additions to its wearable portfolio, with analysts expectin𒆙g Apple to introduce upgraded versi🐼ons of the AirPod Pro and AirPod Max with USB-C charging ports.

The company is also expected to overhaul its watch offerings with a new Apple Watch Series 10, an Apple Watch Ultra 3, and a third-gen Apple Watch SE. The new models are likely to feature bigger and thinner displays.

Apple shares were about 0.9% lower at $218.87 in early trading Monday ahead of the event. They've gained close to 14% since the start of the year.