<p class="ingestion featured-caption">The "Glowtime" event will feature new iPhones and wearable tech.Alexi Rosenfeld/Getty Images</p><ul class="summary-list"><li><a target="_blank" href="https://businessinsider.com/apple-events">Apple</a> is expected to launch four new iPhone 16 models at its <a target="_blank" href="https://businessinsider.com/apple-events">"Glowtime" event</a> on Monday.</li><li>iPhone sales slowed last quarter, so investors are awaiting a new device to boost sales.</li></ul><p>It's that time of year again.</p><p>Apple insiders are descending on Cupertino to watch Tim Cook and Co. introduce the public to the <a target="_blank" class href="https://www.businessinsider.com/apples-iphone-16-heres-what-we-know-ai-battery-i2024-7">iPhone 16, new AirPods, and the latest Apple Watch</a> model. All eyes are on <a target="_blank" class href="https://www.businessinsider.com/apple-park">Apple Park</a> to see the new smartphone that will be outfitted with the company's flavor of generative AI features, called Apple Intelligence.</p><p>The stakes are high, and Apple needs a boost. iPhone sales slowed in the <a target="_blank" class href="https://www.businessinsider.com/apple-aapl-stock-quarterly-earnings-call-report-live-updates-2024-7">most recent quarter</a>, and investors are hoping Apple will show off a smartphone that will motivate iPhone owners to upgrade to the latest model.</p><p>An AI-powered iPhone is expected to drive a "golden upgrade cycle," according to Wedbush Securities analysts, who gave Apple an "outperform" rating and a $285 price target ahead of the announcement.</p><p>During the launch event, Apple will go over the biggest changes to each device, prices, and the day consumers can start preordering their new iPhone 16.</p><p>We'll be live-blogging the event as it's <a target="_blank" class href="https://affiliate.insider.com?h=538c46a4acc8a39b21743afcb3d3f29bf20c38ffe75db29215c0d1ad46f8cfe4&postID=66db2e14229d65a83d5150b0&postSlug=apple-event-iphone-16-announcement-live-updates-2024-9&site=bi&u=https%3A%2F%2Fwww.apple.com%2Fapple-events%2F">streamed online</a> starting Monday at 1 p.m. ET.</p><p>Scroll on for the latest.</p>