Apple Teases iPhone 13 Series and Other New Devices Ahead of Upcoming Event, AAPL Stock Up

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The scheduled Apple Event will feature products with improvements such as faster processors, cameras, batteries, and better storage.

Apple Inc (NASDAQ: AAPL) expects to showcase four new products at a virtual media event taking place on Tuesday from Cupertino, California. The multinational technology company plans to unveil the iPhone 13 mini, iPhone 13, iPhone 13 Pro, and iPhone 13 Pro Max.

The general consensus is that the listed new devices will not have any radical design changes or features. However, from a purely operational perspective, the new iPhone models may have several notable enhancements. These improvements include a faster processor, enhanced camera capabilities, and a more reliable battery. Other rumored changes include a diagonally shaped camera system, bigger data-storage capability, and satellite technology support for message sending in emergency situations. Furthermore, the OS would facilitate faster refresh rates for gaming activities and portrait mode functionality for videos.

Along with the unveiling, Apple also expects to announce a new Apple Watch. The new watch will feature a marginal increase in screen size, thinner borders, a faster processor, and an improved battery life. Another noteworthy announcement is the new AirPods that will closely mirror the higher-end AirPods Pro in appearance. Finally, Apple may update its MacBook, iPad, and streaming TV service.

The anticipated announcement and delivery style of the aforementioned Apple devices is very crucial. In recent years the company has faced competition from several other notable brands, like Samsung, particularly from Asia. Moreover, the iPhone continues to drive Apple’s revenue stream, and serves as the mainstay in its lineup of products.

Apple Facing a Slew of Recent Regulatory Issues

The upcoming Apple event draws near amid some hurdles that the tech giant is weathering, especially from government regulators. Last week, a US judge ruled that Apple should desist from hindering app developers from routing users to alternative payment options. The technology giant prohibited payment options for users outside the App Store. Furthermore, Apple also faces antitrust scrutiny from regulators based in the U.S. and overseas. In addition, the tech corporation recently came under criticism for its approach to combating child exploitation.  

Apple Stock Ahead of Planned Event

AAPL appears to be waiting on the outcome of the upcoming event to influence its next move. Shares closed at a slightly higher price on Monday at $150 but still sat 5% below last week’s record high. Two analysts on CNBC’s ‘Trading Nation’ pointed out key levels to watch out for in Apple stock.

President of Newton Advisors, Mark Newton said on Monday:

“The stock has run up about 20% just in the last four months so, from my perspective, it’s just clearly a case of a potential ‘buy the rumor, sell the news into the event’ [occurrence].”

Newton pointed out a resistance channel from last year that Apple might have issues breaking through. The threshold sits between the $156 and $159 per share range. Among other things, Newton suggested bulls wait for a pullback before jumping onboard.

Head of technical analysis at Oppenheimer, Ari Wald, takes a more optimistic approach on AAPL growth potential. In Wald’s own words:

“For us looking out the next three to six months, Apple really checks all the boxes for us. It’s got a bullish trend, bullish fundamentals according to our analyst that covers it, in a bullish sector as well.”

Wald is relying on the 50-day moving average at $148.20 for indicators as to where AAPL might go next. “If we were to fall below there, that would be the first time you’re below the 50-day since June.” He suggests if Apple were to break further down, it would indicate a signal to buy.

Source: coinspeaker.com

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