If somebody steals your iPhone, can they unlock it and see all your stuff (without wiping it or restoring it)?

If somebody steals your iPhone, can they unlock it and see all your stuff (without wiping it or restoring it)?

I do not own an iPhone, and if I did, I would be severely disappointed if someone stole it.

You not need to devalue everything you possess.

The average thief can't get access to your locked phone. There's a company called Cellebrite that sells devices that law enforcement can use to extract data from passcode-locked phones, but those are extremely expensive and not sold to the general public.

They'll most likely try to sell it (to scam others) or sell it for parts.

However, it is still wise to change all of your passwords and to notify your carrier that the phone is stolen.

Why the downvotes?

If you have secured your phone, someone would have to be hell bent on accessing it.
Report it stolen, it can never be put on service again, and worth nothing but a few parts value.
Newer phones automatically lock forever after a certain number of failed tries to access the phone.