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With his predecessor Steve Jobs projected behind him, Apple CEO Tim Cook kicks off yesterday's event. Photo: Marcio Jose Sanchez / AP

The iPhone X (pronounced "10") will sell for $999 beginning Nov. 3. That's double what the first iPhone cost a decade ago, and more than any other competing device — as Apple positions itself as "a purveyor of pricey, aspirational gadgets," per AP's Michael Liedtke and Barbara Ortutay:

  • "Apple is ... continuing to push its prices higher, even though improvements it's bringing to its products are often incremental or derivative. ... [T]hat runs contrary to decades in which high-tech device prices have fallen over time, often dramatically, even as the gadgets themselves acquired new features and powers."
  • "The premium pricing strategy reflects Apple's long-held belief that consumers will pay more for products that are so well designed that they can't fathom living without them."

Go deeper: See a video of Axios chief tech correspondent Ina Fried trying the iPhone X at the Apple event.

Go deeper

Janet Yellen confirmed as Treasury secretary

Janet Yellen. Photo: Alex Wong/Getty Images

The Senate voted 84-15 to confirm Janet Yellen as Treasury secretary on Monday.

Why it matters: Yellen is the first woman to serve as Treasury secretary, a Cabinet position that will be crucial in helping steer the country out of the pandemic-induced economic crisis.

Dan Primack, author of Pro Rata
4 hours ago - Economy & Business

Scoop: Red Sox strike out on deal to go public

Illustration: Sarah Grillo/Axios

The parent company of the Boston Red Sox and Liverpool F.C. has ended talks to sell a minority ownership stake to RedBall Acquisition, a SPAC formed by longtime baseball executive Billy Beane and investor Gerry Cardinale, Axios has learned from multiple sources. An alternative investment, structured more like private equity, remains possible.

Why it matters: Red Sox fans won't be able to buy stock in the team any time soon.