Ferrari’s marketing boss has quit after 16 years at the company just weeks after a backlash over the launch of the supercar maker’s first-ever electric car, the Luce.

The firm announced this week that Enrico Galliera would leave the role of chief marketing and commercial officer. He will be replaced by former BMW Italy head Massimiliano Di Silvestre in July.

Ferrari thanked Galliera for his service and said he had “decided to embark on a new chapter in his professional journey – a decision shared with the company some time ago.”

The Luce was heavily criticised when it was unveiled in May. Ferrari did not mention the launch in its statement about Galliera’s departure.

Chief executive Benedetto Vigna said that Galliera “has played a significant role in the company’s growth and in strengthening the Ferrari brand worldwide.”

Galliera’s role involved managing which clients could purchase the luxury car maker’s highly sought-after vehicles.

“He has the gratitude of the entire Ferrari team and my personal best wishes for the future,” Vigna said in the statement.

The BBC has contacted Galliera for comment.

Since taking the role in 2010, Galliera has been involved in many of the firm’s key events.

LaFerrari, Ferrari’s first production hybrid hypercar, which combines a petrol engine and an electric motor, was launched in 2013.

In 2015, the firm listed on the New York Stock Exchange and in Milan the following year.

However, the launch of the $640,000 (£485,552) Luce spawned a host of internet memes and negative reactions.

Its looks, the brain-child of iPhone designer Sir Jony Ive, was criticised by the company’s former chairman, Italy’s deputy prime minister and transport minister Matteo Salvini.

The company’s shares plunged by 8% the day after the Luce was unveiled.

Shares of Space Exploration Technologies Corp., known as SpaceX, traded modestly lower in private markets Wednesday, closing at $154.35 after declining about 1.13 percent.

The move came amid broader market fluctuations as the privately held company continues pushing boundaries in reusable rocketry, satellite internet deployment and ambitious plans for human spaceflight. SpaceX remains one of the most valuable private companies in the world, with its valuation reflecting investor confidence in its technological leadership and government contracts.

While SpaceX does not trade on public exchanges, secondary market transactions and tender offers provide liquidity for employees and early investors. These private valuations often signal broader sentiment around the company’s growth trajectory and competitive positioning.

SpaceX’s core businesses include its Falcon rocket family, the Starlink satellite constellation and the next-generation Starship vehicle designed for missions to the Moon, Mars and beyond. Recent Starship test flights have demonstrated progress toward full reusability, a key factor in reducing costs for deep space exploration.

The company’s Starlink service has expanded rapidly, providing broadband connectivity to remote areas and supporting operations in challenging environments. Government and commercial contracts for Starlink have grown, particularly for maritime, aviation and military applications.

Recent Achievements and Challenges

SpaceX has maintained a high cadence of launches from facilities in Florida, California and Texas. Falcon 9 rockets continue serving as reliable workhorses for NASA cargo missions, commercial satellite deployments and crew rotations to the International Space Station.

Starship development remains a primary focus. Successful integrated flight tests have validated heat shield performance, booster catch attempts and in-orbit refueling concepts critical for future lunar and Martian architectures.

The company also faces regulatory and environmental scrutiny at its Boca Chica, Texas launch site. Coordination with federal agencies ensures compliance while balancing innovation timelines and local community concerns.

Competition in the commercial space sector has intensified with players like Blue Origin, Rocket Lab and international entrants. SpaceX’s vertical integration and manufacturing scale provide significant advantages in cost and production speed.

Valuation and Investor Interest

Private valuations for SpaceX have climbed steadily, supported by massive funding rounds and secondary share sales. Tender offers allow employees to realize gains while attracting new capital from institutional investors.

Analysts tracking the space economy project substantial growth in satellite services, launch demand and exploration contracts. SpaceX is positioned to capture significant market share across these segments.

Recent funding activity and partnerships underscore confidence in long-term prospects. The company’s ability to execute on ambitious roadmaps while generating revenue from operational services distinguishes it from many peers.

Starlink Expansion

Starlink has emerged as a major revenue driver, with thousands of satellites in low-Earth orbit delivering high-speed internet globally. The service has proven valuable in disaster response, rural connectivity and maritime communications.

International regulatory approvals and spectrum coordination remain ongoing priorities as the constellation grows. Capacity enhancements and user terminal improvements continue expanding addressable markets.

Military and government adoption of Starlink highlights its strategic importance. Secure communications capabilities support operations where traditional infrastructure is limited or compromised.

Future Outlook

SpaceX’s long-term vision includes establishing a human presence on Mars and enabling point-to-point Earth transport via Starship. These goals require sustained technical breakthroughs and substantial capital investment.

NASA partnerships for Artemis lunar missions provide both funding and technical validation. Successful crewed Starship flights would mark a significant milestone in commercial human spaceflight.

The company continues hiring across engineering, manufacturing and operations disciplines. Its culture of rapid iteration and acceptance of calculated risks has driven repeated successes in a historically challenging industry.

Challenges include supply chain management for high-volume production, talent retention in a competitive technology landscape and navigating complex international regulations for global services.

Broader Space Industry Context

The commercial space sector has matured rapidly, transitioning from government-dominated activities to vibrant private enterprise. Lower launch costs have democratized access to orbit, spurring innovation in Earth observation, communications and scientific research.

SpaceX’s achievements have accelerated this transformation while inspiring new generations of engineers and entrepreneurs. Its reusable rocket technology has fundamentally altered cost structures industry-wide.

Global interest in space capabilities continues rising, with nations and companies investing in sovereign launch capacity and satellite networks. SpaceX benefits from this trend while facing increased competition.

Investment in space infrastructure reflects confidence in multi-decade growth opportunities. Satellite broadband, space tourism, in-orbit manufacturing and resource utilization represent expanding frontiers.

As SpaceX navigates its next phase of development, private market valuations will likely remain closely watched. The company’s execution on Starship, Starlink scaling and deep space ambitions will shape its trajectory for years ahead.

The modest decline in secondary trading reflects normal market fluctuations rather than fundamental concerns. SpaceX’s operational momentum and contract backlog provide a strong foundation for continued leadership in commercial space.

NEW YORK — Nike Inc. shares closed lower on Wednesday, falling about 1.32 percent to $41.82 as investors weighed ongoing challenges in the athletic apparel sector and the company’s efforts to regain momentum.

The modest decline came amid broader market dynamics and continued scrutiny of Nike’s sales trends, inventory management and competitive positioning. The sportswear leader has navigated shifting consumer preferences, increased competition from smaller brands and macroeconomic pressures affecting discretionary spending.

Nike remains a dominant force in global athletic footwear and apparel, with iconic brands, innovative product lines and extensive marketing partnerships. However, recent quarters have shown softer demand in key markets, prompting strategic adjustments including cost-cutting measures and portfolio simplification.

The company has focused on elevating its direct-to-consumer business while optimizing wholesale relationships. Investments in digital capabilities and personalized experiences aim to strengthen customer loyalty amid evolving retail environments.

Financial Performance and Strategy

Nike has reported mixed results in recent periods, with revenue impacted by inventory reductions and cautious consumer behavior. Gross margins have faced pressure from promotional activity and supply chain costs, though operational efficiencies are beginning to show benefits.

Leadership emphasizes innovation in product design, sustainability initiatives and athlete endorsements as pillars for future growth. The company continues leveraging partnerships with high-profile athletes and sports leagues to maintain cultural relevance.

Cost optimization programs target supply chain improvements, marketing efficiency and organizational streamlining. These efforts seek to improve profitability while preserving brand strength and long-term growth investments.

Analysts monitor Nike’s inventory levels and wholesale channel health closely. Progress in reducing excess stock and improving sell-through rates could signal stabilization in core categories.

Market Challenges

The athletic apparel industry has become increasingly fragmented, with direct-to-consumer startups and lifestyle brands capturing younger consumers. Nike’s response includes expanding lifestyle offerings and accelerating innovation cycles.

International markets present both opportunities and complexities. Currency fluctuations, regional economic conditions and varying consumer tastes require localized strategies. Greater China remains an important growth market despite periodic volatility.

E-commerce acceleration during recent years has permanently altered retail dynamics. Nike’s digital platforms have grown significantly, though competition for online attention remains fierce.

Sustainability demands from consumers and regulators influence product development and supply chain practices. Nike’s Move to Zero initiative and use of recycled materials align with broader industry shifts toward environmental responsibility.

Competitive Landscape

Rivals including Adidas, Under Armour and emerging players challenge Nike across price points and categories. Differentiation through technology, such as advanced footwear cushioning and smart apparel, helps maintain premium positioning.

Athlete endorsements and sponsorships remain powerful marketing tools. High-visibility partnerships with basketball, soccer and running stars reinforce brand aspiration and performance credentials.

Retail partnerships with major chains and specialty stores complement direct channels. Balancing these relationships while growing owned retail requires careful navigation to avoid channel conflicts.

Investment Considerations

Nike’s dividend and share repurchase programs appeal to long-term investors seeking exposure to consumer discretionary trends. The company’s strong balance sheet and global brand equity provide resilience through economic cycles.

Valuation metrics have adjusted to reflect recent performance, potentially creating entry points for those bullish on brand recovery. Near-term pressures include promotional environments and cautious consumer spending.

Longer-term tailwinds encompass health and wellness trends, premiumization in emerging markets and opportunities in women’s and youth segments. Successful execution on innovation and digital transformation could drive renewed growth.

Risks include prolonged weakness in discretionary spending, supply chain disruptions and intensifying competition. Currency translation effects and geopolitical factors also influence reported results.

Industry Context

The global athletic footwear and apparel market continues expanding, driven by lifestyle shifts, fitness awareness and performance demands. Nike’s market leadership provides scale advantages in sourcing, distribution and marketing.

Sustainability reporting and transparency requirements are rising across the sector. Companies demonstrating measurable progress in ethical sourcing and circular design gain consumer preference.

Digital transformation reshapes how brands interact with customers. Personalized recommendations, virtual try-on and community building enhance engagement beyond traditional advertising.

As Nike navigates its current chapter, focus remains on product excellence, operational discipline and brand storytelling. The company’s history of reinvention through innovation supports optimism for adaptation to changing consumer landscapes.

The stock’s recent movement reflects typical market fluctuations rather than fundamental shifts. Nike’s enduring cultural relevance and strategic initiatives position it to capitalize on eventual recovery in consumer confidence.

Analysts will scrutinize upcoming earnings for signs of stabilization and forward guidance. Progress on inventory, margins and digital growth will likely influence investor sentiment in coming quarters.

Nike’s journey reflects broader retail challenges and opportunities in a post-pandemic world. Its ability to evolve while staying true to performance heritage will determine sustained leadership in the athletic category.

Water is critical to the functioning of AI infrastructure and data centres. So much so that Moody’s recently cautioned about rising water stress due to rapidly growing demand from data centres. It also warned that India’s fragmented water management framework raises fiscal and credit risks.

Yet, what may be a challenge for some is turning into an opportunity for others. Water-linked stocks such as Shakti Pumps, VA Tech Wabag, Jash Engineering, Enviro Infra and Ion Exchange among others have surged as much as 45% in just a month, drawing investor attention to a sector that has largely remained outside the spotlight.

Data centres that power AI applications consume large quantities of water for cooling and temperature control, creating demand for water treatment, recycling and efficient distribution systems. Companies such as VA Tech Wabag, Ion Exchange and Enviro Infra operate in water and wastewater treatment, while Shakti Pumps supplies pumping solutions and Jash Engineering provides flow control and water infrastructure equipment.

What is lifting these stocks?

“The surge in water stocks has occurred due to the combination of the fundamentals behind water infrastructure and the new emerging data centre theme. With regards to the fundamentals, the increased government funding for water infrastructure projects, the extension of the Jal Jeevan Mission and the resulting order visibility to companies such as Va Tech, Shakti Pumps, Enviro, Jash Engg and many more have created a positive environment for water companies,” said Ravi Singh, Chief Research Officer at Master Capital Services.
On the other side, the data centre narrative has added a new opportunity for investment in water. So far, there have been no significant revenues generated by any listed company that can be linked to data centre operations. Therefore, part of this recent re-rating has been driven by the anticipation of future cash flows that will be generated from data centres rather than actual earnings generated by listed companies today.

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“The truth is that the fundamentals are what provided the basis for the rally, however, the data centre theme has also provided a momentum for the move beyond,” he added.

Which segment will prosper?

Singh suggests that the biggest beneficiary of increasing water shortages is likely to be the wastewater treatment and recycling segment. Given that freshwater is becoming increasingly scarce, municipalities, industries and large commercial users will have to treat and reuse water instead of simply sourcing more of it.
This marks a structural shift in the industry, from water distribution to water efficiency and reuse. Companies engaged in wastewater treatment, industrial water solutions, recycling systems and desalination are therefore likely to be among the biggest beneficiaries.

Valuations look stretched?

Santosh Meeena, Head of Research at Swastika Investmart, told ETMarkets that valuations reflect optimism but are supported by order books and policy visibility, making the sector selective rather than outright frothy across the board.

Water stocks often trade at premiums to the broader market, with India Nifty/Sensex trading at around 20–23x forward earnings. VA Tech Wabag has been around 25–35x P/E with strong growth and ROE, while smaller names such as Enviro or pump stocks can appear elevated due to momentum.

Supporting factors include multi-year order books, government spending certainty and earnings growth. For instance, Wabag reported a 22% rise in Q4 revenue and a 29% increase in profit.

Risks remain and these include execution delays, working capital intensity in EPC projects, competition and any slowdown in capital expenditure. Not all companies are positioned equally. Leaders with strong moats and better order visibility justify premium valuations more than pure-play participants.

The rally has already priced in strong growth expectations, making it important to monitor any policy slippages or margin pressures.

Current valuations suggest investors are increasingly pricing in future growth opportunities alongside fundamentals. The market is assigning value to long-term drivers such as rising water stress, government spending, growing industrial demand and the potential emergence of data centres as a new customer segment.

While these are credible long-term growth drivers, most will take years to translate into meaningful revenues and profits. As a result, share prices across several water stocks have risen significantly faster than earnings estimates.

The long-term outlook for the industry remains positive. However, current valuations indicate that investors are paying a premium for future possibilities rather than performance delivered so far.

More legs to this new emerging theme?

Singh believes data centres could become a significant growth opportunity for some water companies over the next three to five years, although they are unlikely to emerge as a major revenue driver for the sector in the near term.

As AI, cloud computing and digital infrastructure continue to expand, demand for water treatment, cooling and recycling solutions is expected to rise, creating opportunities for companies with expertise in industrial water management.

However, for most listed water players, government and municipal projects are likely to remain the primary source of revenue. The data centre opportunity is real and could contribute to growth over time, but its impact on earnings is likely to be gradual.

Water is not merely another infrastructure theme. It sits at the heart of several of India’s most important growth sectors. Reliable water supplies are essential for data centres, semiconductors, pharmaceuticals, power generation and agriculture. As water stress intensifies across the country, the need for treatment, recycling, desalination and efficient water management will only continue to grow.

Unlike energy sources or technologies, water has no substitute. While industries can switch from one source of energy to another or adopt new technologies, they simply cannot operate without water.

For now, the market largely views water companies as beneficiaries of government spending. But the bigger opportunity lies in solving a long-term scarcity challenge. As investors begin to view water as a strategic resource rather than merely an infrastructure segment, the sector could witness a much larger re-rating. The recent rally signals growing interest, but the market may still be underestimating the scale and longevity of the opportunity ahead.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

SANTA CLARA, Calif. — Every morning, when Australia’s players wake up and head down to their communal breakfast room, they pass a large picture, hung up by the stairwell to ensure they can’t miss it. The image is of Mathew Leckie, roaring in celebration after scoring the goal that saw the Socceroos beat Denmark in their final group game of the 2022 FIFA World Cup, a joyously stunned Riley McGree running along behind him, his hands on his head in amazement at what just happened.

A Deliberate Reminder Built Into the Team’s Camp

Both the image and its placement in the Socceroos camp aren’t a coincidence; one of the individual touches, alongside the Johnny Warren quote that lines their breakfast room and the Australian coat of arms emblazoned across the wall of their film room, all insisted upon by the team’s coaching staff. The move to immortalize that moment in the team’s accommodation was placed there with a distinct purpose: to show the 17 players in the squad who are playing in their first World Cup just what they can achieve, and remind the nine back once more just what they’re playing for.

A Familiar Set of Stakes, Four Years Later

Four years on from that moment, a similar set of circumstances that confronted Leckie will greet the current crop of Socceroos on Thursday evening in Santa Clara, just about an hour down the road from their accommodation in the hills of Berkeley. At the San Francisco Bay Area Stadium, they’ll enter their third and final group game against Paraguay with their fate once again yet to be determined. As was the case heading into the game against the Danes, they’ll meet the Paraguayans having won one game and lost another, with their future riding on this result.

What Australia Needs to Advance

For the Socceroos, the equation is simple and, mercifully, a lot more forgiving than it was four years ago. Secure a win or a draw against Paraguay, and they will finish second in Group D and advance through to a round of 32 meeting with the second-place finisher in Group G — likely one of Belgium, Iran, or Egypt. Lose, and they’re still a decent chance of reaching the knockout stages, even if that would likely see them given the thankless task of playing Germany in Boston, with just one day to prepare after flying across the country.

A Long Shot, but Not Impossible

There’s also a chance the Socceroos could be heading home. As of Tuesday, Opta gives Australia, thanks to their 2-0 victory over Türkiye in their opening match, a 91.78% chance of reaching the knockout stages. Only an unlikely combination of results elsewhere and a thumping loss to Paraguay would be enough to knock them from the ranks of the eight best third-placed finishers that will progress through the groups alongside the 12 top-two finishers. It’s possible, certainly, and Australian football has a near-supernatural habit of snatching defeat from the jaws of victory, but still considered a long shot by the statisticians.

Questions Over the Lineup

Invariably, all eyes will be on Tony Popovic’s teamsheet as soon as it is delivered Thursday. The Socceroos boss has swung the surprises with both of his lineups so far in the tournament, richly rewarded against Türkiye but not so much against the United States. And while a hamstring injury he suffered against the U.S. will prevent Leckie from retaining his spot in the side and repeating his Danish heroics, just who of Connor Metcalfe, Nestory Irankunda, or Cristian Volpato — who all helped spark a second-half fightback against the Americans — comes into the lineup, if any, or if there are changes to the midfield to reintroduce the veteran head of Jackson Irvine, looms as a major story.

“I would be surprised if there weren’t any changes. How many? That’s still up in the air,” assistant coach Paul Okon Sr. said on Tuesday.

After Cameron Burgess’s withdrawal at halftime of the U.S. defeat, there is also conjecture surrounding a change in the backline. Yet while much discussion Down Under is focusing on reported Barcelona target Lucas Herrington coming in, this overlooks that it was Jason Geria who was introduced for Burgess, with the longtime Popovic collaborator not exactly doing much wrong after he entered, either.

A Tough Test Awaits in Paraguay

Whoever plays, they will be facing a stern test. La Albirroja experienced a blip against the United States in their opening game, but reasserted the gritty defensive reputation they earned in qualification by digging in with 10 men for 45 minutes and securing a 1-0 win over Türkiye last time out. They’re not exactly prolific in front of goal, scoring just 14 goals in qualification and entering Thursday with their only double-digit goalscorer at the international level, Miguel Almirón, suspended.

But they did beat Brazil, Argentina, and Uruguay in the crucible that is South American qualifying and are riding an emotional wave, with coach Gustavo Alfaro declaring on Sunday that he wanted his side to send a message to kids on the streets of Paraguay: “Being less for us means being more.”

“You know what kind of game it’s going to be,” Irvine said midweek. “They have incredible individual quality, as you saw in some moments, and you expect the unexpected.”

An Uneasy History Against South American Opposition

Speaking of South America, Australia has a rather abject record against CONMEBOL nations, with just nine wins from their 50 meetings against foes from the continent. They are undefeated against Paraguay across their rivalry, at least, with two wins and three draws from their previous five meetings, but the last time the two played was in 2010, when a side featuring the likes of Mark Schwarzer, Harry Kewell, and Tim Cahill defeated La Albirroja thanks to a goal from David Carney.

Bracing for a Physical, Cagey Battle

“South American teams, they’re a different kind of opponent as opposed to any teams from Europe or from Asia,” said Geria. “They’re a lot more street-wise. There’s going to be a lot of little stuff off the ball, the tactics to get you angry, to get you off of your game, to get you booked, and potentially sent off. Those little games. And then the fight, these guys fight, they play like every game is their last game they’re going to play. And they fight for everything.”

With Australia entering Thursday’s match needing only a draw to secure passage to the knockout stage, the broader question facing Popovic and his coaching staff is how aggressively to adjust a lineup that delivered an encouraging second-half response against the United States even in defeat. Given Paraguay’s defensive resilience and the emotional motivation Alfaro has instilled in his squad, the Socceroos appear set for precisely the kind of physical, hard-fought contest that Geria and his teammates have spent the week preparing for — a fitting final test before Australia learns whether it will follow in the footsteps of the 2022 squad immortalized on their breakfast room wall.

Apple’s flagship smartphone hasn’t taken a year off from its updates since 2007, and barring a massive surprise, 2026 won’t be any different. The Cupertino-based tech giant is widely expected to launch a new lineup of iPhones later this year, including the new iPhone 18, the 18 Pro, and the rumored iPhone Ultra, the company’s first-ever foldable.

A September Launch, With a New CEO Taking the Stage

If you’re in the market for a new iPhone, you should circle September in your calendar. That has been the month for Apple’s big showcase event for a very long time, and there’s no reason to believe Apple will change that in 2026. Expect to see new Apple CEO John Ternus take the stage to introduce it; his term of office officially begins September 1.

A Price Increase Is Coming

Thanks to the ongoing RAM shortage caused by the AI industry, sometimes called “RAMageddon,” tons of smartphones, laptops, and gaming consoles are seeing huge price hikes. Experts who’ve spoken to Mashable say that trend isn’t going to stop anytime soon.

Outgoing Apple CEO Tim Cook took the unusual step of preparing customers for a pricier iPhone. “Price increases are unavoidable,” Cook told the Wall Street Journal in an interview. The Journal quoted an analysis showing that the memory chip components in the iPhone 18 Pro will cost Apple $150 more than those in the iPhone 17 Pro. The Journal estimated $1,299 for the iPhone 18 Pro, $200 more than last year’s model.

The Lineup of Models Expected

Barring a huge turn under Ternus, Apple will release a base iPhone 18, an iPhone 18 Pro, and an iPhone 18 Pro Max in late September or early October. Apple may also launch or announce a foldable iPhone alongside the normal iPhone 18 models, rumored to be called the iPhone Fold or iPhone Fold Ultra. It’s not strictly a member of the iPhone 18 family by name, but is expected to be unveiled around the same time.

Design: Evolution, Not Revolution

Apple has not released any official teasers or other imagery for the iPhone 18 lineup yet, so anything reported to date could be wrong. Still, from the sum total of all reports, it sounds like Apple isn’t really reinventing the wheel design-wise this cycle. But Ternus, a hardware guy, is reportedly bringing the company’s industrial design group into the center of Apple’s planning process. Looking further into the future, the iPhone 20 is said to bring bigger changes, including a curved waterfall display.

Display sizes are expected to remain roughly the same as last year: 6.3 inches for the iPhone 18, 6.3 inches for the iPhone 18 Pro, and 6.9 inches for the iPhone 18 Pro Max. However, display quality might differ this year. Prominent leaker Instant Digital shared on Chinese social media that Apple’s brightness demands are unusually high this year, suggesting much brighter displays than in previous years.

A Smaller Dynamic Island for the Base Model

The base iPhone 18 could also have a smaller camera bump compared to previous models. There are reports of a slightly redesigned Dynamic Island on the screen itself, with the pill-shaped notification hub potentially being made smaller in the iPhone 18 models. One alleged leaked image purports to show an iPhone 18 Pro with a downsized Dynamic Island cutout, though that smaller cutout reportedly applies only to the base model — Apple is expected to retain the bigger camera plateau seen on the iPhone 17 Pro for the iPhone 18 Pro specifically.

Color Options Already Leaking

For the iPhone 18 Pro, at least, it seems the color options have already leaked. Previous rumors indicated Apple was experimenting with a “deep red” color for the iPhone 18 Pro, and a report from MacWorld backs that up. According to that reporting, the color lineup for the iPhone 18 Pro will be silver, gray, light blue, and a color called “dark cherry,” likely the deep red previously reported. Fans of black iPhones appear to be out of luck again.

Hardware: Standardized RAM and New Chips

The lineup is expected to have a standardized 12GB RAM count across the board. In previous years, the Pro models had 12GB of RAM, while the base model had only 8GB. According to Korean outlet The Bell, Apple will be upgrading the base model so that it matches the Pro models in that regard. It’s also widely expected that Apple will adopt new A20 and A20 Pro chips for the base and Pro models, respectively, along with a new C2 modem for improved cellular connectivity, possible 5G satellite support, and a new N2 chip for better Wi-Fi performance.

A Bigger Battery for the Pro Models

For the iPhone 18 Pro, the current expectation is that Apple will improve the battery size in the premium iPhone 18 models this year. Leaker Digital Chat Station on Weibo reported that the batteries could exceed 5,000mAh, an improvement over the iPhone 17 Pro. Instant Digital also posted in a separate Weibo leak that the back glass of the iPhone 18 Pro has been altered, resulting in a new unified look, as opposed to the two-tone look of the iPhone 17 Pro.

Major Camera Upgrades Expected

Bloomberg’s Mark Gurman, a source of many spot-on iPhone reports, says the iPhone 18 Pro, in particular, will have “some of the biggest camera hardware upgrades in the lineup’s history.” The telephoto camera is expected to have a larger aperture, but more significant is a rumored variable aperture, first reported by Digital Chat Station on Weibo. Variable aperture would let the iPhone 18 Pro camera capture different amounts of light for different situations, potentially leading to a major leap in photo quality. For instance, the bokeh effect famously associated with portrait mode on iPhones would become possible in-camera rather than through software processing, resulting in more natural and generally better-looking shots.

What to Expect From AI Siri

One of the first things many users will want to know about the iPhone 18 is what the new, revamped, AI-upgraded Siri experience is like. Apple first promised users a newer, smarter, Apple Intelligence-powered Siri two years ago, and the company has since faced lawsuits after it failed to deliver, ultimately settling a class action suit related to those claims for $250 million.

Post-WWDC, more is now known about Apple Intelligence in general: Siri will understand what’s on a user’s screen, and the assistant will be smarter overall, powered by Gemini. Apple software chief Craig Federighi has also been clear about the boundaries of the new assistant’s personality. “Siri really wants to say, ‘I can help you get things done. I can help you learn about the world,’” Federighi said. “But if you try to engage Siri as a romantic partner, Siri’s not up for that. Siri’s 100 percent not into that.”

With Apple’s official announcement still months away, the coming weeks and months are likely to bring a continued stream of leaks and rumors as manufacturing partners and supply chain sources offer further glimpses into the iPhone 18 lineup’s final specifications. Given the scope of changes already reported — from standardized RAM and a variable aperture camera to a likely price increase tied to the broader RAM shortage — this year’s iPhone lineup appears positioned to represent a meaningful hardware and software upgrade, even as Apple has yet to confirm any of the details through official channels ahead of its expected September event.

The Dow was up 140 points, or 0.3%, and on the upswing after dropping at the open. The S&P 500 was down 0.9%, while the Nasdaq was down 1.4%.

The iShares Semiconductor ETF was still down 7.1%, but consumer staples, health care, real estate, utilities, and financials were all posting solid gains. Industrials and tech were the sectors really taking a beating.