Apple (AAPL) – Get Free Report saw its shares fall by 1.7% on Tuesday, as investors awaited the launch of the iPhone 15, the company’s latest flagship smartphone. The event, which is scheduled to start at 1 p.m. ET in Cupertino, California, is expected to showcase the new iPhone model, along with updates on the Apple Watch and AirPods.
iPhone 15: What to Expect
The iPhone 15 is rumored to feature an updated camera system, a new design, and a faster charging port. The camera system is said to include a 48-megapixel main camera, a three-times optical zoom, and improved low-light performance. The design is expected to be similar to the iPhone 14, but with a smaller notch and a titanium frame. The charging port is likely to be a USB-C port, which would make the iPhone compatible with other devices and accessories.
The iPhone 15 will also be powered by the new A15 Bionic chip, which will offer better performance and efficiency than the previous generation. The chip will also enable new safety features, such as Crash Detection and Emergency SOS via satellite. These features will allow the iPhone to detect a severe car crash and automatically call for help, even in areas without cellular coverage.
The iPhone 15 will come in two sizes: a 6.1-inch iPhone 15 and a 6.7-inch iPhone 15 Plus. The prices are expected to remain the same as the iPhone 14 series, starting at $799 for the iPhone 15 and $999 for the iPhone 15 Plus.
Apple Faces Challenges in China and Europe
Despite the anticipation for the new iPhone, Apple faces some challenges in its key markets of China and Europe. Last week, the European Commission proposed new regulations that would label Apple as a “gatekeeper”, meaning that it would face stricter rules on how it operates its App Store and other services. The move could limit Apple’s ability to charge commissions from developers and impose its own terms and conditions.
Meanwhile, in China, Apple’s second-largest market, the company faces increasing competition from local rivals such as Huawei, Xiaomi, and Oppo. The Chinese government has also banned its employees from using iPhones, citing security concerns. According to a report by the Wall Street Journal, Beijing is worried that Apple could share user data with the US government or other foreign entities.
Apple Stock Outlook
Despite these headwinds, analysts remain bullish on Apple’s prospects, citing its loyal customer base, its strong ecosystem of products and services, and its innovation capabilities. According to MarketBeat, Apple has a consensus among Wall Street analysts of a buy rating, with a median target price of $168.47, implying a 9% upside from its current price of $154.46.
Apple is also expected to benefit from the upcoming holiday season, which typically boosts its sales of iPhones and other devices. The company may also announce new products later this year, such as new MacBooks, iPads, and AirPods.