Global smartphone and technology company Apple Inc. (NASDAQ: AAPL) has once again broken the $1 trillion barrier, with a $1.01T market capitalization early Thursday morning.
Apple announced new iPhone models and streaming prices this week, leading to heightened investor confidence.
Apple Confirms New iPhone 11 Models
In a press event at its Cupertino headquarters on Tuesday, Apple announced the latest iPhone models to the press and tech insiders.
Apple’s new lineup includes:
- The iPhone 11 Pro Max with a 6.5-inch screen and triple camera layout. Price starts at $1,100 for a 64GB storage model.
- The iPhone 11 Pro with a 5.8-inch screen and the same camera layout. Price starts at $1,000 for a 64GB storage model.
- The iPhone 11 (replacing the iPhone XR) with a 6.1-inch screen and dual camera layout. Price starts at $699 for a 64GB storage model.
Most rumors surrounding the new iPhones turned out to be true, although the standard iPhone 11 comes as a surprise. It features the same chipset as the more expensive Pro models but is priced $50 below last year’s XR model.
The aggressive pricing strategy could allow Apple to compete in the mid-range smartphone market with manufacturers like Samsung, LG, and Huawei.
While the new models are largely iterative when compared to last year, the public reception has been positive. Apple still enjoys massive brand recognition around the world. iPhones are status symbols in many markets, and a $699 model will connect the company with a wider consumer base.
Stock activity yesterday shows that investors are optimistic about sales performance in the holiday season.
Streaming Service Details Released
Apple also announced pricing for its upcoming Apple TV+ streaming service. Subscriptions will be offered from November 1 at $4.99 per month.
This undercuts both Netflix and the soon to be released Disney+. Apple will start with less content than its competitors, so the lower price will benefit the company as it builds its streaming library. New programming will be added monthly, and all future iPhone, iPad, Mac, iPod, and Apple’s TV hardware sales will come with a year of free streaming.
Apple’s stock hasn’t been this strong since 2018. Price has increased 41.75% since the start of the year, proving that this is still a top-tier investment for growth-minded investors.
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