Apple's newest iPhone could have big screen and big price

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It is an Apple event day. That’s when the company lets the world know what new products and updates to current products are on the way.

Apple is expected to blast further past the $1,000 price barrier when it launches new iPhones on Wednesday, according to Reuters.

The new top model is expected to have a 6.5-inch screen with an edge-to-edge display and be called the iPhone X Plus or Max.

It would have an OLED display with richer colors, and Wall Street is targeting a price of $1,049 or $1,099 versus the current $999 base price for the iPhone X.

Apple's market capitalization has passed $1 trillion and the company needs to sustain revenue growth.

One way to do that is sell more phones at higher prices.

A second phone with a 5.8-inch OLED display, likely called the iPhone Xs, would be similar to the iPhone X but with an improved processor.

Analysts say the real focus may be on a model with 6.1-inch display, potentially called the iPhone 9. The big display is expected to use lower-cost LCD technology but look more like last year's iPhone X.

Apple declined to comment.

In addition to new models, Apple is also expected to unveil new wireless Airpods earbuds, an Apple Watch with a bigger display and maybe a wireless charging mat.