The planet’s most valuable company is back in focus as the world holds its breath for the newest iPhones.
Apple (AAPL) CEO Tim Cook will take the stage at the Steve Jobs Theater in in Cupertino, California, at 1 p.m. ET tomorrow. As usual, the tech giant hasn’t said what’s coming but everyone seems to have a pretty good idea.
First and foremost, there will be three new iPhones to address specific niches within the user base. Some customers reportedly want a lower-cost version of the new edge-to-edge form factor without the HOME button. Analysts think AAPL will give them a stripped down version of the iPhone 10, with a cheaper LCD screen (instead of an OLED screen).
If that’s the bargain offering, there also seems to be a premium set of smart-phone users looking for a larger screen. They’ll be the only units priced above $1,000.
Aside from the phones, Cook and his executives are expected to unveil new Apple Watches and some updated iPads.
The product launch comes at an interesting time for AAPL. On one hand, it’s ridden a wave of bullish enthusiasm from its last quarterly report. Click here for more on that event, which included positive margin and customer-retention trends.
But it’s also faced uncertainty from President Trump’s trade wars with China, where most of the company’s products are manufactured. The Administration threatened more tariffs and is pressuring for some factories to be relocated back to the U.S. That political fear triggered the stock’s deepest pullback since July last week and yesterday.
But today AAPL is rebounding sharply and is the top gainer in the Dow Jones Industrial Average. It’s currently up 2.33 percent to $223.42 in early afternoon trading.
In conclusion AAPL’s been trending higher on good earnings, and now traders are buying a pullback as the market awaits a potentially key set of new products.