Hall, however, believes Apple will price it closer to $849 given better-than-expected demand for the current iPhone X this summer.
Most of the buzz is swirling around a rumored iPhone that is supposed to boast a 6.5-inch OLED screen, up from 5.8 inches on the existing iPhone X.
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.
The XS is supposedly the follow-up to last year's iPhone X and Apple's new flagship smartphone.
Although Apple has not yet confirmed any of its new products it seems there could be plenty to be excited about.
"All signs point to Wednesday's event being one of Apple's largest launch announcements in recent years", Mr Bhikha said. While Xs will be an advanced version of the iPhone X, iPhone XC will be its low-priced version.
While some expect a $699 price for the iPhone 9, Goldman Sachs analyst Rod Hall sees as much as $849, a significant bump for a mid-range device.
The US phone giant will allow people to watch the event live on the social media site, widening its potential viewership by breaking with a long-standing tradition of only allowing viewers to tune in via the company's website.
Tonight's the night: when Apple unveils its latest iPhone, iPad and no doubt a whole bunch of other stuff. Stay tuned for more information today as the new products are announced.
Fans of Apple may also remember that the company promised a wireless charging pad, the AirPower, a year ago.
While it is the market leader, the Apple Watch still doesn't sell in high enough quantities for Apple to break out individual unit sales like it does for Macs, iPads, and iPhones.