Apple Inc Stock Price, News & Analysis

Apple has unveiled the iPhone 16 Pro and iPhone 16 Pro Max, featuring Apple Intelligence, larger displays, and advanced camera capabilities. Key highlights include:

1. A18 Pro chip for enhanced performance and efficiency
2. Larger display sizes: 6.3" (Pro) and 6.9" (Pro Max)
3. New 48MP Fusion camera with 4K120 fps video in Dolby Vision
4. 5x Telephoto camera on both models
5. Improved battery life, with Pro Max offering the best ever on iPhone
6. Durable titanium design in four finishes
7. Camera Control for intuitive interaction with the camera system
8. Apple Intelligence for enhanced user experience and privacy

Pre-orders start September 13, with availability from September 20. Prices start at $999 for Pro and $1,199 for Pro Max.

Apple has introduced Apple Watch Ultra 2 in a new black titanium finish, alongside enhanced features in watchOS 11. The watch offers up to 36 hours of battery life with regular use and up to 72 hours in Low Power Mode. New features include sleep apnea notifications, a Tides app, and customization options for the Action button. Apple also unveiled a new Titanium Milanese Loop band and an Apple Watch Hermès Ultra 2. The watch starts at $799 and will be available from September 20. watchOS 11 introduces improvements for athletes, including enhanced metrics for runners, cyclists, and swimmers. The update also brings offline maps for hikers and new features for divers and golfers.

Apple (AAPL) has announced a significant leadership transition, with Chief Financial Officer Luca Maestri stepping down from his role on January 1, 2025. Maestri will continue to lead Corporate Services teams, reporting to CEO Tim Cook. Kevan Parekh, current Vice President of Financial Planning and Analysis, will become the new CFO and join the executive team.

During Maestri's tenure as CFO, Apple's revenue more than doubled, with services revenue growing over five times. Parekh, an 11-year Apple veteran, brings extensive experience in financial leadership roles both at Apple and previous companies like Thomson Reuters and General Motors.

This planned succession aims to ensure continuity in Apple's financial leadership and strategy.

Apple reported strong financial results for its fiscal 2024 third quarter, setting new June quarter records for revenue and earnings per share (EPS). The company posted quarterly revenue of $85.8 billion, up 5% year over year, and quarterly EPS of $1.40, up 11% year over year. Services revenue reached an all-time high.

CEO Tim Cook highlighted the announcement of Apple Intelligence, a new personal intelligence system incorporating generative AI across Apple devices. CFO Luca Maestri noted that the company generated nearly $29 billion in operating cash flow and returned over $32 billion to shareholders. Apple's installed base of active devices reached a new all-time high across all geographic segments.

The board declared a cash dividend of $0.25 per share, payable on August 15, 2024.

Apple TV+ has achieved a record 72 Emmy Award nominations across 16 Apple Originals, marking its best-ever showing. The streaming service swept top category nominations, including:

• Outstanding Series for 'Lessons in Chemistry'
• Outstanding Drama Series for 'The Morning Show' and 'Slow Horses'
• Outstanding Comedy Series for 'Palm Royale'
• Outstanding Documentary or Nonfiction Series for 'STEVE! (martin) a documentary in 2 pieces' and 'Girls State'

'The Morning Show' leads with 16 nominations, including 10 acting nominations. 'Lessons in Chemistry' received 10 nominations, including Apple TV+'s first-ever Best Series nomination. The 76th Emmy Awards ceremony is scheduled for September 15, 2024.

Apple has announced the opening of its first retail store in Malaysia, Apple The Exchange TRX, located in Kuala Lumpur's Tun Razak Exchange on June 22. The store will offer Apple's full range of products and services, alongside support from over 160 team members. It will also host free 'Today at Apple' sessions, empowering customers to maximize their Apple devices. The store features a modern design with sustainable elements and connects to a rooftop park. Special opening events, 'Jom Discover', will run from June 22 to July 6, featuring local creators.

Apple has announced new updates aimed at enhancing user privacy across its platforms, including the innovative Private Cloud Compute feature. This feature extends the security of iPhone to the cloud, allowing processing of complex AI requests while protecting user data. Apple has also introduced new privacy features like locked and hidden apps, improved contact permissions, and a refreshed Passwords app for secure password management. Additionally, the new iOS 18, iPadOS 18, and macOS Sequoia include features like Mail categorization, satellite messaging, and presenter preview. These updates aim to give users greater control over their data and privacy.

Apple has introduced a range of new tools and resources aimed at enhancing developer productivity and innovation. Key updates include Xcode 16 with features like Swift Assist and predictive code completion, Swift 6 offering compile-time data-race safety, and Game Porting Toolkit 2 which simplifies game development for Apple devices. New updates to visionOS 2, Controls API, and TestFlight further support developer capabilities. The App Store now offers new discovery and monetization features, such as custom product pages and win-back offers for subscription apps, along with enhanced App Analytics.

Apple has unveiled watchOS 11, introducing features that enhance health and fitness tracking, and provide more personalization than ever before. The new Vitals app allows users to monitor key health metrics, while the training load feature offers insights into workout intensity and duration. Activity rings can now be paused, and the Fitness app has been enhanced to allow greater customization of metrics.

Additionally, support for pregnant users has been improved, with features to monitor gestational age and symptoms. New widgets in the Smart Stack and Photos face offer more intelligent customization, and the Translate app is now available on Apple Watch. The update also brings more convenience with the Check In feature and expanded workout types.

Developers benefit from new APIs to enhance app functionality, while privacy remains a priority with encrypted health data. A developer beta is available now, with a public beta next month, and a full release expected this fall.