Apple (NASDAQ:AAPL) made a significant announcement at its product launch event on September 12, unveiling four new iPhone models: the iPhone 15, iPhone 15 Plus, iPhone 15 Pro, and iPhone 15 Pro Max. Both the iPhone 15 (6.1-inch) and iPhone 15 Plus (6.7-inch) are powered by the A16 Bionic chip, while the iPhone 15 Pro and iPhone 15 Pro Max boast the industry’s first 3-nanometer chip, the A17 Pro.
The A16 Bionic chip stands out with its six-core CPU, delivering faster performance than its predecessor, thanks to four high-efficiency cores that also consume 20% less power. Additionally, the five-core GPU offers a 50% increase in memory bandwidth, ensuring smooth graphics for streaming videos and playing games. The icing on the cake is the new 16-core Neural Engine, capable of performing nearly 17 trillion operations per second.
Apple has introduced a USB-C connector, allowing users to charge not only their iPhones but also their Macs, iPads, and the new AirPods Pro (2nd generation). Furthermore, iPhones equipped with a USB-C connector can directly charge AirPods and Apple Watch.
In terms of camera enhancements, the primary camera now boasts an impressive 48 MP resolution, enabling high-resolution photos. Additionally, a new 2x Telephoto option offers users a total of three optical zoom levels. The latest iPhones also feature an upgraded portrait mode, making it easier to capture detailed portraits even in low-light conditions.
Apple has expanded its color palette, offering the iPhone 15 and iPhone 15 Plus in five new colors, including pink, yellow, green, blue, and black. The iPhone 15 Pro and iPhone 15 Pro Max will be available in four colors: black titanium, white titanium, blue titanium, and natural titanium. All these models are set to hit the market starting from September 22.
Will the New iPhones Boost Apple’s Stock Price?
Apple’s shares have seen a 35.7% increase year-to-date, slightly underperforming the Zacks Computer & Technology sector’s return of 37.6%.
The short-term outlook appears cautiously optimistic due to certain challenges. Apple refrained from providing revenue guidance for the fourth quarter of fiscal 2023. Nevertheless, it anticipates a year-over-year growth acceleration in both iPhone sales and Services in the current quarter compared to the June quarter.
Apple is experiencing growth in its services segment, driven by increasing customer engagement. The company now boasts over one billion paid subscribers across its Services portfolio. The expansion of content offerings on Apple TV+ and Apple Arcade is contributing to subscriber growth.
However, revenue projections for both Mac and iPad foresee double-digit declines on a year-over-year basis in the fiscal fourth quarter, largely due to challenging comparisons.
Featured Image: Unsplash @ Zana Latif