Here are the biggest announcements from today's Apple tech event

Apple unveiled its latest iPhones on Wednesday — including its first foldable iPhone, which starts at $1,999 — at its annual fall showcase, with new CEO John Ternus stepping into the spotlight after succeeding longtime leader Tim Cook earlier this month. 

What did Apple announce?

Apple kicked off the event by introducing the iPhone 18, the latest iteration of its smartphone. Compared with earlier generations, the iPhone 18 is higher priced due in part to a global shortage of memory chips, with the iPhone 18 Pro starting at $1,199. The iPhone 17's price ranges from $799 to $1,999, depending on the model.

Ternus said the new iPhone 18 will integrate more AI capabilities and stressed that Apple will maintain users' privacy, with Apple Intelligence — its AI application — running only on the device when possible. If it needs additional computing power, it will run on private cloud computing resources, he added.

"When greater capability is needed, private cloud compute extends that same level of privacy protection, ensuring that nobody, not even Apple, can access what's yours. It's personal intelligence that's actually personal," Ternus said.

The iPhone 18 will include a new, powerful chip called the A20, which has a six-core CPU design with two new super cores that Apple said will make the smartphone up to 20% faster.

The new models feature longer battery life — 45 hours of video playback for the Pro Max — and faster charging. The camera offers what Apple called "cinematic effects" from regular video captured on the phone, as well as new options for manual controls and "smart focus tracking," which lets users focus on a single moving subject.

Apple also announced the AirPods 5, priced at $129, which the company said have better noise-cancellation tech than previous versions. Apple also said it's rolling out a new Apple Watch, starting at $399, with more health sensors that can provide more accurate heart rate readings. 

Both the AirPods and Apple Watch will go on sale on Sept. 18.

How much is the iPhone 18?

Apple said the iPhone 18 will start at $1,199, and the iPhone 18 Pro Max will start at $1,299. That compares with $1,099 for the iPhone 17 Pro and $1,199 for the iPhone 17 Pro Max.

The devices will go on sale starting on Sept. 12 and are available in black, silver, glacier blue and burgundy, which Ternus called "a sophisticated and unique new color."

"The relatively modest price increase across Apple's latest flagship line-up will come as a relief to consumers," Gerrit Schneemann, principal analyst at Counterpoint Research, said in an email.

How about the foldable iPhone Duo?

Ternus also introduced Apple's first foldable iPhone, dubbed the iPhone Duo. The phone, which is available in two colors — star white and night sky — starts at $1,999 for 256 GB of storage, the company said. It will be available for pre-order on Oct. 16 and ship on Oct. 23.

The Duo lets users split the screen to use two different apps on the device, or two windows of the same website for uses such as comparison shopping.

"We started with the experience that we wanted for ourselves — a larger display that feels as natural and intuitive as iPad," Ternus said. "Then we brought together thoughtful design with breakthrough engineering in a way only Apple can, and the result is a series of remarkable innovations that we believe will redefine the experience of using a foldable phone."

The iPhone Duo has the largest display of any Apple phone, Ternus said. When folded, it's about the size of a passport.

"We believe the foldable could be a major hit for Apple, and this is the right time to go after the new hardware chapter under Ternus," Dan Ives, partner and analyst at Yorkville Ives & Co., told CBS News. "Long overdue and the right timing to go after the golden installed base."

The device is likely to appeal to iPhone Pro users who want to upgrade, as well as early adopters and consumers "who were waiting specifically for an iPhone foldable," Counterpoint principal analyst Varun Mishra said in an email.

"One aspect to keep in mind is the repair cost, which for a foldable can be steep," Mishra added. "This would also mean foldables might see a higher attach rate for AppleCare and other insurance services as compared to any previous iPhones."

How important is the event for new CEO John Ternus?

The keynote address for Ternus will set the tone for his vision of Apple's future, Forrester analyst Dipanjan Chatterjee said. 

"John Ternus inherits perhaps the most successful consumer technology juggernaut in modern times. That is both a boon and a burden for him. Tim Cook's perfected execution, scale, and monetization set a high bar, and Ternus must extend that run," Chatterjee said.

The event was "in line with expectations," Melissa Otto, head of research at S&P Global Visible Alpha, told CBS News after the showcase.

"The foldable phone is compelling and at a similar $2,000 price point as Samsung's model," she said.

Apple's emphasis on AI and its security measures to protect customer data "are likely to resonate with users," Otto said. But, she added, "Are these updates enough to get consumers excited to upgrade?"