As per the latest report the Apple iPhone 16 series entire line up will be equipped with the Apple A18 Processor. According to insiders cited in the story, four unreleased iPhone models are detailed in the iOS 18 source code. The models D47, D48, D93, and D94 that they are listed for are probably the iPhone 16, 16 Plus, 16 Pro, and 16 Pro Max.
If the reports are true then it will be first the since iPhone 13 series line up the iPhone 16 series will be equipped with the same chipset. The base iPhone 14 used same Apple A15 Bionic Chip which was present in previous series iPhone 13 vanilla model. Since iPhone 14 series only the Pro models got upgraded chipsets.
The iPhone 16 series will be an upgraded version of iPhone 15 series along with same dynamic Island across the board and an Action button. The upcoming iPhone models are anticipated to have graphene cooling as well for enhanced thermal performance.