On September 7, Apple Inc. is rumored to introduce its most recent lineup of iPhones and smartwatches.
According to a report from Bloomberg News published on Wednesday, the tech giant will update its flagship smartphones as part of a hectic fall product push that will also feature four new Mac and iPad models and three new Apple Watch models.
The release of the iPhone 14 is, however, by far Apple’s largest event. Sales of iPhones brought in $40.67 billion for Apple in the most recent quarter, up from $39.57 billion the year before and accounting for about half of the company’s overall revenue. That exceeded analysts’ projections, defying issues with the world’s supply chains and growing prices.
The iPhone 14 is rumored to include a better camera but just minor technology advancements. It will also introduce a 6.7-inch screen version while removing the 5.4-inch “small” version.
Analysts are optimistic about Apple’s future. Wedbush’s Dan Ives told CNBC that the demand for Apple products will probably continue high next year. On Wednesday, Credit Suisse’s Shannon Cross named Apple one of her “top picks,” boosting her recommendation on the company from neutral to outperform with a $201 price target.
Following a 24% rise over the previous three months, Apple shares AAPL, +0.88% closed marginally higher on Wednesday at $174.55 and are down around 2% year to date. The S&P 500 SPX, -0.72%, in contrast, is down 10% in 2022 despite having gained 9% over the previous three months.
