Company officials say Apple (AAPL) will announce the new products on September 7!
According to a Bloomberg report, Apple (AAPL) is planning to launch its annual new products on September 7. iPhone 14 will be introduced with many other new devices, including three Apple Watch models and perhaps new Macs and iPads.
iPhone 14 lineup may include four models of Pro and Pro Max, which some analysts expect their price to increase by $100 over last year`s iPhone 13 Pro and Pro Max models. The Bloomberg report also says that the new Apple products could reach stores on September 16.
Investors will watch the September 7 market reaction to the new products, while Apple Lovers, regardless of the stock price and sometimes even the product price, will wait for their first opportunity to buy. As you can see in the bellow figure, despite all the new products and services that Apple company has, iPhone is still the company`s primary income source.
Despite the weakening economic condition and lower consumer confidence, Apple products still have strong demand. Therefore we can expect an optimistic outlook from managers during the new product introduction ceremony. Unlike many other companies that had a problem with Supply chain issues, investment firm Wedbush Securities said Apple was seeing a "further slight improvement" in its supply chain. With optimists seen around the company outlook, analysts increased the target on the company`s stock to $220 a share from $200 by year-end.
Besides iPhone, we should not forget the services that the company can sell based on the company`s massive user base of almost 2B installed devices. The overall outlook is positive now; let us wait and see the market and user`s reactions next two weeks!
From the technical point of view, the share`s price starts a slight downturn with solid support around $150 (20 weekly Moving Average) and key resistance around $170. With a stop loss under $150, Apple shares can be a good buy!
