Apple’s September 2020 launch event was a little unusual. The iPhone wasn't included, which highlights how the COVID-19 pandemic has impacted Apple’s business. Usually, the company unveils new iPhones and its other hardware products in mid-September.
Apple Watch launch expands wearable device portfolio
Apple launched two new smartwatch models at its Sept. 15 event. The event was virtual due to the COVID-19 pandemic. The Apple Watch 6 and Apple Watch SE expand the company’s wearable device portfolio. Apple has been looking beyond the iPhone to grow its revenue.
The wearable device market is growing quickly and Apple wants to dominate the space. In addition to the new smartwatches, Apple also unveiled a refreshed iPad Air and launched a subscription service bundle called "Apple One."
When is the Apple iPhone launch date?
Apple expects to unveil the iPhone 12 a few weeks later than the usual date. In the past, Apple launched new iPhone models in mid-September. The delay suggests that Apple might be aiming to launch the next iPhone around mid-October.
The COVID-19 pandemic forced Apple's factories in Asia to halt production. Also, Apple staff worked from home and the COVID-19 pandemic. These events may have slowed down the iPhone 12 development, which resulted in the launch delay.
Apple will likely debut four variants of the iPhone 12. The variants could be the iPhone 12, iPhone 12 Pro, iPhone 12 Max, and iPhone 12 Max Pro. All of the iPhone 12 models should come with 5G-capability.
What is Apple's stock price today?
Apple stock was a little volatile ahead of the opening bell on Wednesday, Sept. 16. At one point, the stock rose about 0.10 percent to trade at $115.65. At another point, the stock fell 0.33 percent to trade at $115.10.
Apple stock has gained 57 percent in 2020, which shows that the stock is beating the market. The blue-chip Dow Jones Industrial Average is down 1.9 percent in 2020. The S&P 500 has gained 5.0 percent, while the tech-heavy Nasdaq Composite has gained 25 percent year-to-date.
Tim told me that he wanted to give smaller shareholders a chance to buy stock, hence the split. The other companies care too much big shareholders or being like Warren Buffett. It's a small but welcome sign...— Jim Cramer (@jimcramer) July 30, 2020
Should you buy Apple stock?
Apple split its stock in August to make it more accessible to small investors. Apple stock could be a great fit for income-seeking investors since the company pays dividends. Billionaire investor Warren Buffett is a big fan of Apple stock.
Tim also knows that we want a split. Wait until the other companies realize that this is what people want. I know it is optics but the thousand dollar stock doesn't work for our viewers.— Jim Cramer (@jimcramer) July 30, 2020
Apple could see a huge revenue increase when its 5G iPhone hits the market. Foldable phones are also becoming more popular. Apple will likely join Samsung in the foldable smartphone segment. The future looks promising for Apple’s services business amid a rise in online video streaming and online gaming.
Apple carries a consensus buy recommendation. The most bullish analyst sees nearly a 30 percent upside in Apple stock to $150 in the next 12 months. However, the most bearish analyst sees Apple stock crashing 30 percent from the current level to $80.