Apple is expected to unveil its iPhone 14 lineup at the company’s annual September event this Wednesday.

The product event, which has been described by the tagline “Far Out,” will take place at Apple headquarters in Cupertino, California, and will be streamed live on Apple’s website and social media channels.

This year’s invite featured a night sky with a constellation of stars that made up the Apple logo, leading some to speculate that there would be major upgrades to the iPhones’ camera to allow for better nighttime or long-distance photography. But, as usual for Apple, the tech giant hasn’t given many details as it’s creating a buzz and urging customers to stay tuned for the big day.

The event will kick off at 10 am PT/1 pm ET on Wednesday, and will be covered live by CNN Business. Here’s a look at what to expect from CEO Tim Cook and his team.

the star of the show

Like every year for a decade, Apple is expected to unveil its latest iPhone at a September keynote.

Apple is expected to go big with the iPhone 14, literally. Rumors say that it will debut a 6.7-inch phone that is not a Pro model, which means it will have the largest screen size but without the highest price tag. The rumor mill also suggests that Apple could ditch its cheaper, mini-sized iPhone in line 14 so they don’t compete with iPhone SE sales.

Forecasts suggest that the Pro model will be slightly thinner, and that the much hated notch around the front camera will be absent in the new iPhone models.

Apple watchers are also getting excited about a possible major camera quality upgrade with the iPhone 14, possibly one that can shoot 8K video. If this happens, it could be one of the biggest changes in iPhone camera quality to date.

The iPhone 14 price decision is becoming a test for Apple as general economic conditions for both the tech sector and consumers have entered choppy waters. A handful of analysts have forecast slight price hikes for the latest and greatest iPhone model.

“My expectation is that Apple probably has to raise prices,” Ben Wood, chief analyst at market research firm CCS Insight, told CNN Business before the event.

Currently, the price of the regular, non-mini iPhone 13 starts at $799, the iPhone 13 Pro at $999, and the iPhone 13 Pro Max at $1,099. Some analysts are forecasting a price hike of at least $100 on the higher-end Pro and Pro Max models. But given the stress consumers are facing, he thinks Apple will also do “everything to make it as little as possible.” This could mean offering attractive redemption bonuses, installment plans, and other offers.

Despite rising inflation and other headwinds to the economy, Cook said on the company’s latest earnings call that there has yet to be “any clear evidence” of a macroeconomic impact on iPhone sales. This does not mean that the tech giant is immune to a worsening economic climate. In the three months ending in June, it posted a profit decline of almost 11%, compared to the same period a year earlier. This development also comes amid supply chain issues related to China’s “zero covid” policy.

Finally, there has been talk that Apple could remove the Lightning port from the iPhone in the new models and opt for a wireless MagSafe charging design. There are also rumors that some US models could launch without a physical SIM slot, as Apple moves towards an eSIM-only design.

Apple Watch, iOS 16 release date and more

New Apple Watch models, including a high-end offering, are expected to be unveiled on Wednesday. The official release date for iOS 16, the much-heralded latest update that will allow users to customize their iPhone’s lock screens (just like Android does) and includes a revamped iMessage, is also expected to be announced.

What not to expect

With the new iPhone expected to take center stage, many analysts don’t expect Apple to release new iPads or Mac computers until October. Of course, we can always be wrong when it comes to trusting rumours. It’s also unlikely that Apple will unveil its long-awaited augmented reality headset on Wednesday.

Despite rival Samsung’s penchant for foldable devices, Apple isn’t yet expected to unveil such an iPhone this fall.

CNN Business will cover Cook’s big production live, follow her here as the world’s most valuable tech company finally puts to rest all the rumors and reveals some of its latest gadgets at the height of the busy holiday shopping season.