Apple eyes Sept. 10 for launch event: BBG

Shares of Apple (AAPL) are rising slightly before the closing bell on Friday after its been reported by Bloomberg that the company is eyeing September 10 for its next tech cycle launch. In a letter to shareholders, Third point CEO Daniel Loeb has discussed his investment in Apple, believing it has room to grow.

Market Domination Anchors Alexandra Canal and Julie Hyman break down the latest development for Apple and what it could mean for the company moving forward.

For more expert insight and the latest market action, click here to watch this full episode of Market Domination.

This post was written by Nicholas Jacobino

Video Transcript

You want to check in on shares of Apple right now, they are edging higher with less than an hour before the close.

The tech giant reportedly looking at September 10th as the date for its biggest product launch of the year.

That's according to reporting from Bloomberg Apple, of course, set to unveil its new iphone watches and airpods.

And if the timeline matches previous launches, those devices would then go on sale on September 20 separately, Apple getting a vote of confidence from billionaire hedge fund manager Dan.

He says there is upside for the stock, especially if it can harness A I for its IOS operating system.

We talked about this actually yesterday as part of a note from loop capital Ananda be talked about how the A I cycle because of the large install base of iphones could be the sort of next unlocking of growth for Apple.

Yeah, that that makes perfect sense to me.

And we talk about the A I cycle, we talk about the upgrade cycle for the iphone, obviously very critical for Apple.

Now, if we get that September 20th release, that's going to feed into the company's current quarter, fiscal fourth quarter results, they do expect sales to grow about 5% year over year.

Of course, that's slightly below what we'll see from the holiday season.

That's the quarter after this current one.

And that's predicted that revenue will climb 7% a year over year.

That makes sense to.

Right.

Especially we get new iphones holidays.

You want to upgrade phone.

I always en end up missing the upgrade cycle.

I do it like a year before.

I, I should just wait, you know, like it always, I have a 15 that I just got, but I'll, it'll, it'll have the A I capabilities.

I think when they roll them out, it's like the one, it's the one that is 15 and then above what else?

So I lucked into it this time around.

Um, but it's not expected that the hardware itself is gonna see a huge revamp this time around.

It sounds like according to Bloomberg's reporting that the watch, um, and the air pods maybe will have a little more of an upgrade.

So we'll have to see what they say.

Yeah, I mean, wearables, they are a really important part of Apple's business and, you know, services have really done well for Apple, especially as we've seen the hardware sort of be a little sluggish recently.

But obviously, whenever we have these upgrades, you usually see an uptick there and just quickly mentioning, um, Jan Loeb, who in a letter to shareholders obtained by Yahoo finance talks about his investment in Apple and Loeb of third point says, if Apple can execute on this opportunity, meaning the ja I opportunity, the monetization form factors will follow and have the potential to increase Apple's earnings meaningfully.

And he said this is going to be a relief because the last few years have been stagnant in terms of those numbers.

So it's about A I.