Apple (AAPL Stock) phases out the mini as it rolls out the iPhone 14
|Despite the bearish narrative around some parts of the US market, Apple’s share price has held up reasonably well, significantly above its June lows, and finishing yesterday modestly higher.
Expectations around yesterday’s “Far Out” production launch were high with respect to the launch of the new iPhone 14, as well as a new Apple Watch Ultra model.
The iPhone update turned out to be a minor one, with the company announcing updates to the two regular and two Pro phones, while phasing out the mini.
The main upgrades are enhancements to the camera, a satellite messaging feature, which allows users to send SOS messages when there is no mobile connection.
The new phones will get a 48 mega-pixel camera, as well as a low power mode screen, while the new Pro phones will get a faster chipset, the A16, as well as a new display with thinner bezels and a more active screen area.
Apple also launched a new Watch called the Ultra which is more durable and aimed very much at the outdoors market, adding body temperature tracking, car crash detection and a new low power mode. This will be priced at $799 upwards.
Apple also launched new AirPods Pro earbuds with better audio and a find my device feature, which will cost $249.
There was some surprise that the prices for the new phones were left unchanged, which suggests that Apple are acutely aware that the price points for its products are also susceptible to the cost-of living crisis. We’ve already seen some evidence of this last month when Apple discounted some of its iPhone 13 products in China. The new iPhones will go on sale on September 16th.
There were no updates to the iPad rather disappointingly.
The big question as Apple looks towards what tends to be its most lucrative quarter heading into the Thanksgiving and Christmas period is whether these relatively minor updates will be enough to tempt people to upscale their Apple experience.
There is also the question as to how of an effect the freezing of prices will have on its profit margins.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.