Apple (AAPL) kicked off its annual fall product launch Monday at its Cupertino, Calif., headquarters. The spotlight is on the expected launch of the AI-enabled iPhone 16 smartphone series.
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Apple will detail the hardware upgrades, product specifications and pricing for the new handsets. Plus, it will tout the capabilities of its latest smartphone operating system, iOS 18, including new artificial intelligence features. (Check out our preview story.)
In addition to new iPhones, the consumer electronics giant is seen unveiling the latest Apple Watch lineup and new AirPods wireless earbuds.
Check back here for more live coverage today.
Apple stock is on the IBD Tech Leaders list.
1:25 p.m. ET
AI Features Coming To Apple Watch
Apple Watch Series 10 also features faster charging. Users can get up to an 80% charge in just 30 minutes. The device has all-day, 18-hour battery life.
The latest processor for the Apple Watch enables artificial intelligence functions. AI features on the watch include the enhanced Siri personal digital assistant, speech translation, and workout and fall detection. Other AI features are focused on health such as detecting irregular heart beat and sleep apnea.
Apple Watch Series 10 will be available on Sept. 20 and will start at $399.
1:13 p.m. ET
Apple Debuts Apple Watch 10
Apple began its fall product launch event with a lifestyle video showing real customers using its products and services, including Apple Watch, iPhone, AirPods and Apple Music.
Apple Chief Executive Tim Cook said the Apple Watch, AirPods and iPhone are having a “profound impact” on customers’ lives.
He then introduced the company’s latest smartwatch, the Apple Watch Series 10. The watches feature a bigger display and thinner design.
The new watches have up to 30% more screen area than previous generations. The bigger display makes it easier to type a message and other users. The display is up to 40% brighter than prior models.
1:06 p.m. ET
Apple ‘Glowtime’ begins
Event has started.
12:50 p.m. ET
Apple Stock Down A Fraction
Apple stock bounced back ahead of its iPhone event, but was still down a fraction in early afternoon trades.
11:41 a.m. ET
China’s Huawei Steals Apple’s Thunder
Just hours before Apple’s iPhone 16 launch, Chinese tech giant Huawei previewed a triple-folding smartphone. The tri-fold device, called the Mate XT, has garnered more than 3 million pre-orders, Reuters reported.
Huawei plans to detail the Mate XT at a launch event on Tuesday.
Apple is rumored to be working on a folding-screen iPhone, but it’s not expected to launch until 2026, according to media reports.
9:50 a.m. ET
Apple Stock Slips Ahead Of “Biggest Upgrade Cycle In Its History”
Apple stock was down around 1% on the stock market today ahead of the event.
Wedbush Securities analyst Daniel Ives said Apple’s iPhone 16 lineup will kick off the “biggest upgrade cycle in its history.”
“This iPhone 16 release is all about Apple Intelligence and the unleashing of the consumer AI revolution,” Ives said in a client note Sunday. “We estimate that roughly 20% of consumers worldwide will ultimately access and interact with generative AI apps through the Apple ecosystem over the coming years which all kicks off with iPhone 16 this week.”
Supply chain checks indicate initial iPhone 16 shipments will be closer to 90 million-plus units, vs. Wall Street’s original expectations in the 80 million to 84 million unit range, Ives said.
Ives rates Apple stock as outperform with a 12-month price target of 285.
JPMorgan analyst Samik Chatterjee said much of hardware updates for the iPhone 16 are known because of news leaks from the supply chain. But the focus on AI and software features creates the opportunity for surprises at the event.
“The ‘unknowns’ and watch points from the upcoming launch event will include pricing and shipping dates, release date of iOS 18 and additionally incremental features and integrations over the ones already highlighted at WWDC to reinforce higher engagement from developers as well as AI partners,” he said in a client note Sunday.
Chatterjee rates Apple stock as overweight with a price target of 265.
Follow Patrick Seitz on X, formerly Twitter, at @IBD_PSeitz for more stories on consumer technology, software and semiconductor stocks.
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