At long last, the Apple (NASDAQ:AAPL) event has arrived, and Apple is pulling out all the stops to get customers in lines around the various buildings where Apple products are sold. With the new event’s arrival came all sorts of news about the products that will soon be available for purchase. Nevertheless, Apple stock was down over 2% in Tuesday afternoon’s trading as the event went on.
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Starting off with perhaps the most long-awaited news of all is the pricing of the iPhone 15 and the iPhone 15 Plus. The iPhone 15 will drop at $799, while the iPhone 15 Plus will sell for $899. Both start at 128 gigabytes of storage. The iPhone 15 Pro, meanwhile, boasts a titanium case on par with the Mars lander. Three colors will be available: silver, blue, and black. Meanwhile, all iPhone 15 models will use USB-C chargers—the fact that that’s required by law in Europe was, perhaps handily, not mentioned—and the A16 Bionic chip will be available in even the lowest-end iPhone 15.
But it wasn’t just iPhones that got the nod at the big show. The Apple Watch got a new coat of metaphorical paint with the Apple Watch Series 9. The Series 9 not only comes with an S9 chip, representing a new step forward in overall capability, but also a whole new control scheme. The Series 9 boasts a “double tap” system that allows users to access the watch’s functions without touching the screen.
While investors seemed underwhelmed with the offerings, analysts are still clearly on Apple’s side. Currently, Apple stock is a consensus-rated Moderate Buy with 22 Buy ratings to eight Holds. Further, Apple stock offers 17.86% upside potential with an average price target of $207.10.
