In this Wednesday, Sept. 7, 2016, file photo, Apple CEO Tim Cook announces the new iPhone 7 during an event to announce new products, in San Francisco. Apple is expected to demand $1,000 for the fanciest iPhone that it has ever made, thrusting the market into a new financial frontier that will test how much consumers are willing to pay for a device that has become an indispensable part of modern life. (AP Photo/Marcio Jose Sanchez, File)
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