New Apple iPhone’s key feature is its price tag

At Apple Inc.’s event Tuesday, executives will boast about new iPhone wizardry to much applause, but the most important feature will likely be tucked in at the end and met with little audience response: the price.

The expected 10th-anniversary iPhone roster, including a redesigned device rumored to cost about $1,000, is set to unfold at an event at the company’s lavish new Cupertino, Calif., headquarters, in a theater named for the man who left the iPhone as his legacy. Much like the bold bets the late Steve Jobs made as Apple’s chief executive, the new price threshold will test consumers’ willingness to spend lavishly on high-end electronics while giving Apple a chance to reap huge rewards.

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