The most anticipated launch was that of the iPhone 14 and the iPhone 14 Pro, starting at $799 and $999, respectively, which, outside of an improved camera system, are largely similar to the iPhone 13 line, though Apple said the iPhone 14 Plus features the strongest battery life of any iPhone.
Perhaps the biggest surprise from the event was the debut of emergency satellite messaging service, enabling users to send messages without cellular connection, available free for two years domestically.
The event began with several updates to its watch line, which Apple CEO Tim Cook called the “best Apple Watch lineup yet,” rolling out the Apple Watch Series 8, featuring a temperature sensor and car crash detection via its motion sensors, and the Apple Watch Ultra.
The Ultra, available September 23 for $799, has the longest battery life and largest display of any Apple Watch to-date and is designed for outdoor sports with enhanced GPS and water resistance features.
The AirPods Pro 2, available September 23 for $249, is the first update to Apple’s most popular headphone series and has several new features including a speaker on the case to help users locate the item, longer battery life and Apple Watch charger capability.
Apple shares remained largely flat during Wednesday trading, rising .9% to $155.96 amid a broader market rise.
3 million. That’s how many concurrent viewers the YouTube livestream of the “Far Out” event received.
The list of new products closely follows earlier reports about the iPhone 14’s new features and the other new products. Apple may introduce new Macbook laptops as soon as next month, following the same cycle as 2021 when it unveiled the iPhone 13 in September and two new MacBook Pro laptops running on in-house processing chips. Apple reported a record $83 billion in revenue for the second quarter of 2022, buoyed by $40.7 billion in iPhone sales, though its profits fell nearly 11% compared to the second quarter of 2021.
Apple shares have outperformed the S&P 500 by just .1% in the month following an iPhone launch on average but have exceeded the S&P 500 by 6.1% six months after a launch on average, according to Bernstein data. In a Tuesday note to clients, Bernstein analyst Toni Sacconaghi predicted a similar trend in the coming months as investors await data on iPhone 14 sales.
All attention is focused Wednesday on Apple’s hardware, but the company is quietly angling toward expanding its advertising business. Apple has made strides in eating into Facebook and Google’s advertising duopoly, raking in $4 billion in advertising revenue in 2021. Google CEO Sundar Pichai listed Apple as one of his company’s chief rivals in the advertising space during a Tuesday speech.