Investors will be looking at whether the iPhone 8 features will justify the gadget’s rerported $1,000 price tag (which is expected to sell for about £760 in the UK), 10 years after the first iPhone was released.
iPhone sales are hugely important for Apple’s profits, so the latest launch is crucial for the technology giant’s outlook.
The group is also expected to update recent models the iPhone 7 and iPhone 7 Plus.
Experts said Apple now appears to be using the new iPhone X (8) to position itself as a premium product rather than trying to compete with the mass market deals of Android.
Investors will be looking for proof that Apple’s change of direction will work.
Jordan Hiscott, chief trader at ayondo markets, said: “Apple has seen expectation around its latest iPhone reach fever pitch ahead of launch.
“As the company’s flagship product, the device, rumoured to be called the iPhone X, will be key to driving up its already-gigantic cash pile and overall profitability.
“This makes the success of the launch very important for investors.”
Mr Hiscott added: “In the 10 years since the iPhone first launched, many of the innovative features which it first brought to the market are no longer unique and several of those rumoured to be on the iPhone X are already in existence; notably, the device being water resistant or having facial recognition software.”
Analysts at City Index predict the new iPhone X size will be at least 4.7, 5.5 inches and the display will be OLED, edge to edge (allowing more space, but leaving no space for a fingerprint sensor).
And it’s expected the iPhone 8 will be powered through an Apple-designed A11 chip set to replace A10, which will enable longer battery life.
The gadget is also expected to again use glass for the new iPhone’s body (Apple started using aluminium from iPhone 5 onwards).
And there will also likely be wireless charging – though a lightning connector is expected to remain.
The camera will be a vertical dual lens on the back vs. horizontal set-up on iPhone 7 Plus, with optical image stabilisation on all cameras.
Ahead of the launch, markets appeared confident in the tech giant.
Apple’s share price increased by around 1.8 per cent on Monday, and by another 0.2 per cent on Tuesday, although it is still well below record highs seen at the end of August.
However, experts said the company could run into problems as it tries to release more than one phone at once.
Ken Odeluga, market analyst at City Index, said: “This not only complicates demand estimates, but also increases chances of sourcing pressures for the hundreds of parts required for each handset.
“The more advanced and innovative Apple intends to be, the tougher sourcing such supplies on time becomes.
“The most recent delays reportedly centred on the use of organic light-emitting diodes (OLED) for the new handset’s screen.
“The main crunch point was Apple engineers’ wish to innovate by moving the fingerprint scanner from the ‘home’ button and making the entire screen capable of biometric identification, using a fingerprint or facial recognition.
“With latest leaks suggesting there will be no fingerprint scanner at all, it appears the design/technology gambit may have failed, requiring users to unlock the latest handset using facial-recognition technology, or even just an old-fashioned password.”
It’s feared glitches have hit the production of new handsets pushing back manufacturing.
Mr Odeluga added: “Apple has guided the market to expect $49bn-$52bn in revenue for the quarter ending 30th September, above a fair cohort of consensus forecasts.
“Missed sales due to lower than expected production may only slice results for Apple’s fourth quarter by a sliver—Q4 will probably contain just eight days of new product sales.
“But that won’t save the stock from further weight if there’s any sign of iPhone shortages in the winter season.”