If the reports are true, Apple ($AAPL) will be testing out a new strategy for its all-important fall hardware event. Traditionally, this year would be what's come to be known in Apple parlance as a "mid-cycle" upgrade year: some feature and processor refreshing, but no major overhauls of its core iPhone, iPad, and MacBook lines.
But reading the tea leaves from a Bloomberg report published Thursday, Apple's plans this year go further than what would be typical of a mid-cycle refresh.
In addition to iPad and MacBook refreshes, Apple plans to unveil three new iPhones, according to Bloomberg, including a "Pro" line to replace the XS. The upgraded iPhone Pro will reportedly include a major overhaul to the camera to include a third, wide-angle sensor that will essentially take three photos and use A.I. to stitch them together into one image. Samsung has made huge strides in its phone camera tech, and the Galaxy S10's ultrawide camera is increasingly seen as the smartphone camera to beat.
The new line of iPhones are said to also include reverse wireless charging, enhanced Face ID, increased water-resistance, faster chips for A.R. ー though no 5G capability.
Dan Ives, managing director of equity research for Wedbush Securities and a full-time Apple watcher, told Cheddar that Apple is leaning into the mid-upgrade cycle in a bid to offer just enough new features to convince customers who may be on the fence about upgrading to pull the trigger.
"Apple realizes there's 350 million iPhones in upgrade opportunity," Ives said. "That's what the focus is going to be."
After a disastrous holiday quarter last year, a successful fall hardware launch needs to show investors that Apple is still capable of driving demand for iPhone even in off years, especially overseas. Ives said he expects Apple could sell 75 million to 80 million new iPhones in the first few months, but it will be dependent on China, which accounts for 20 percent of the iPhone upgrade market.
"This will not be successful if iPhone demand in China has not shown growth," he said.
Apple is taking a calculated risk by not waiting until 2020, when it has said it expects to be able to provide 5G technology in new devices. The hope, according to Ives, is that the average iPhone user, who hasn't purchased a new device in three years, will be swayed by the camera technology and faster processor that are expected to be revealed in the next month. "I do not believe many can wait until 5G," Ives said.
It will be a busy fall for the Cupertino-based company. Apple's subscription streaming service TV+, rumored to be priced at $10/month, is also expected to launch before the holidays. Ives is more bullish than some on the success of TV+, predicting it could reach 100 million consumers in three to four years. "But they're going to need more content," he said. "They significantly have to step up their game." Ives predicts Apple will ink major acquisition deals with big studios in the coming years when it becomes apparent it can't possibly produce enough high-end content on its own to catch up to Disney, HBO, or Netflix.
Amid a rise in gun-related deaths in 2021, a smart technology solution is being touted to help personalize and secure the use of firearms for owners in hopes of preventing unauthorized use and accidents. Gareth Glaser, president and CEO of LodeStar Works talked with Cheddar about adding fingerprint or smart tech locks to its 9mm handgun as a way of addressing the deadly issue without a partisan viewpoint. "We felt a technical solution would be the best way to go," Glaser said. "It's nonpolitical, and it actually addresses the product itself as opposed to a cultural issue."
Stocks closed lower Thursday and the Nasdaq snapped a three-day streak as tech stocks tumbled. Investors have been eyeing how the Federal Reserve will implement its more aggressive monetary policy amid rising inflation, including three potential rate hikes this year, with the first one coming as soon as March. Melissa Brown, Managing Director of Applied Research at Qontigo, joins Cheddar News' Closing Bell to discuss today's close, market valuations, big tech weakness, moving into bonds, and more.
As the cryptocurrency and digital asset space continues to evolve and grow, one podcast launching on Spotify's new video podcast platform aims to inform listeners about the various uses and developments in the crypto world. 'New Money' features guests from the entertainment and sports worlds discussing building wealth in the crypto space, creating NFTs, working on digital contracts, and more. Solo Ceesay, co-host of the 'New Money' podcast and co-founder of creator-focused social media platform Calaxy, joins Cheddar News' Closing Bell to discuss what the podcast will explore, its guest lineup, how they verify content amid broader crypto speculation, and more.
Two key reports from the Labor Department this week show inflation is still running red hot. Consumer prices soared 7% in 2021, the highest increase in nearly 40 years, and producer prices followed suit, rising 9.7%. Brian Levitt, Global Market Strategist at Invesco, joined Cheddar News' Closing Bell to break down the latest data and what it means for the economy moving forward.
Lime is celebrating the launch of its latest electric bike in Washington, DC, this week, with more cities joining in this spring. The Gen4 e-bike boasts a new look, a more powerful motor, and a battery that's interchangeable with the Gen4 e-scooter. CEO Wayne Ting joined Cheddar to discuss the company's investment in electric bikes and the potential role of micromobility in the metaverse. "I think it would be incredible as a way to teach people to live greener, if there are worlds out there, metaverses out there, where the way you go faster in that world is if you take a bike and a scooter," he said. "So, you're teaching people better behavior as part of their virtual world as well."
Svetlana Mitsuko Delous, dancer and aerial artist with Cirque Du Soleil, joins Cheddar News to talk about the return of the OVO show at the Microsoft Theater in Los Angeles this March.
Retired gymnast Nia Dennis went viral last year after a video of her gymnastics floor routine highlighting Black excellence gained traction on social media. Now the athlete and UCLA graduate is partnering with juice and plant-based foods company Pressed to promote health and wellness in the new year. "They have helped me start this year off strong and start living a healthier lifestyle," she said.
Microsoft has discontinued the Xbox One as it looks to focus on ramping up production for its current Xbox Series S and Xbox Series X. The Xbox One first hit the market in November 2013.
M&T Bank rang the Opening Bell at the New York Stock Exchange Thursday morning as the company celebrated a milestone of opening 100 new multicultural banking centers. David Femi, head of multicultural banking, joined Cheddar to discuss the culturally inclusive expansion as part of the bank's overarching goal to increase financial access in racially and ethnically diverse communities. "By designating branches as multicultural is just one way for us to be intentional in making sure, that number one, when [customers] come into these branches, they see people that look like them, they see people that speak their language," he said.
