Apple CEO Tim Cook held a highly anticipated event this week to unveil the latest iPhones, watches, and AirPods. Despite the excitement, the event failed to reverse a recent decline in the company’s stock shares. Apple, which reached a market capitalization of over $3 trillion on June 30, faced concerns about potential restrictions on iPhones in China. However, the event showcased a range of new devices, including the iPhone 15, Apple Watch Series 9, and AirPods Pro.
During the event at the Steve Jobs Theater, Cook announced that the iPhone 15 would feature a brighter screen, reaching 1600 nits, twice as bright as the previous model. It would also include a 48-megapixel camera, a significant upgrade from last year’s non-Pro models with 12 megapixels. The new iPhone models, starting at $799, will no longer use Apple’s proprietary “Lightning” charging and data connector but will instead adopt the universally used USB-C port. This change is a result of the European Union’s mandate, which Apple initially opposed but has now accepted.
Additionally, Apple revealed the Apple Watch Series 9 with a new feature called “double tap.” This allows users to perform tasks like answering phone calls by tapping their thumb and finger together, without touching the watch. These new devices will be available in stores starting on September 22.
Despite the product announcements, Apple’s stock shares declined nearly 2% during and after the presentation. Analysts attribute this drop to overall weak smartphone demand due to inflation. While Apple saw a decline in shipments from 46.5 million to 45.3 million, it fared better than other major smartphone makers. However, some experts remain skeptical about Apple’s performance, citing declining revenue over the past three quarters and potential turbulence in the Chinese market.
Notably, Apple faces criticism for falling behind other tech giants in the field of artificial intelligence. Silicon Valley companies like Nvidia, Microsoft, and OpenAI have made significant progress in this area, while Apple has been relatively quiet. However, some analysts, like Dan Ives from Wedbush Securities, expressed optimism about Apple’s future. He predicts that the new iPhone’s advanced technology, particularly in chips, batteries, and cameras, will drive a “mini super-cycle” in the coming year and surprise skeptics about Apple’s potential.
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