It’s been a whirlwind week for Apple Inc. AAPL, with news ranging from the highly anticipated iPhone 16 launch to unexpected layoffs. The tech giant is making headlines left, right, and center, and we’ve got all the juicy details for you.
Apple Boosts iPhone 16 Orders
In anticipation of its AI-equipped iPhone 16 launch, Apple has reportedly increased its orders for the new iPhones by over 10%. The company has directed suppliers to prepare components for roughly 88 to 90 million new iPhones, a significant increase from last year’s initial orders for the iPhone 15 series.
Analyst Predicts iPhone 16’s Impact on Apple Stock
Morgan Stanley analyst Erik Woodring has shared his insights on the upcoming iPhone 16 launch, stating that the new iPhone and Apple Intelligence could unlock pent-up demand. He also predicts an acceleration in the iPhone replacement cycle, which he believes is a “key factor” for Apple’s stock performance.
See Also: Elon Musk Lashes Out At Judge After Brazil’s Supreme Court Blocks Starlink’s Bank Accounts
Apple’s Glowtime Event
Apple has confirmed its annual iPhone launch event, named “Glowtime,” scheduled for Sept. 9. The event is expected to showcase a variety of new products, including the much-anticipated iPhone 16 series.
Apple Cuts Jobs in Services Division
In an unexpected move, Apple has reportedly laid off about 100 employees from its services division. The layoffs primarily impacted teams responsible for the Apple Books app and Apple Bookstore.
Wedbush Analyst Foresees ‘Historical Period’ for Apple
As Apple gears up for its “Glowtime” event, Wedbush analyst Dan Ives predicts a “historical period” for the tech giant, sparked by the launch of the iPhone 16 series.
Read Next:
Photo courtesy: Shutterstock
This story was generated using Benzinga Neuro and edited by Rounak Jain
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
