apple's (AAPL - Free report) The recent updates across its various platforms are expected to attract more customers for its various products and services, thus increasing the company’s revenue.
The company is expected to bring more upgrades as Apple recently announced that it will host the Worldwide Developers Conference (WWDC) in online format from June 6 through June 10.
During WWDC, Apple showcases the company's latest innovations in iOS, iPadOS, macOS, watchOS, and tvOS. Since the company recently released the first beta of iOS 15.5, the final update is expected before iOS 16 is released at WWDC in June.
The new iOS 15.5 beta 1 is available to developers via a remote update in the Settings app. After the feature-packed release of iOS 15.4 which supports Face ID while wearing a mask, new emojis, comprehensive control support on iPad and Mac, and more, iOS 16 is expected to include more features to beat the competition dramatically. volatile economic situation.
Apple Inc. Price and consensus
Investors are concerned as the high interest rate environment is expected to continue in 2022 due to the ongoing Russian-Ukrainian war. This has led to higher commodity prices, which may limit US GDP growth in the first quarter of 2022. It is worth noting that the US inflation rate is currently at its highest level in 40 years.
This economic turmoil affected the demand for Apple products. The ongoing conflict has exacerbated chip shortages over the course of a year, affecting many industries ranging from computers to smartphones.
Amid all this, Apple has halted production in Russia, where it had 16% of the market share last year. As a result, Apple is reducing its production plans for iPhone SEs by 20%, roughly 2 million to 3 million units, in the Nikkei Asia index.
iPhone 13 production is expected to drop by a few million. AirPods production reduced by 10 million units.
As such, the company's stock is down 33.9% year-to-date compared to the Zacks Computer-Mini Computers industry and the Zacks Computer and Technology segment is down 32.4% and 14.9%, respectively.
The strong business model of the company to provide updated software with new features in all of its offerings and the service business has become the main factor distinguishing the profitability of the company. The company currently holds Zacks rating of #2 (Buy). you can see The full list of Zacks #1 stocks (strong buy) today is here.
Apple Upgrades: The Key to Beating Rising Competition
Apple is expected to update iOS and watchOS with new health tracking features after the company expanded its Fitness+ program by introducing a postpartum fitness program to the service.
The new Apple Watch upgrade in Fitness + will help the company fend off competition from the likes Garmin (GRMN - free report).
Garmin has been able to capitalize on the growing fitness business amid the pandemic with its various smartwatches to suit diverse needs such as outdoor hikers, swimmers, and other health enthusiasts.
According to 9to5Mac, although Apple is far from announcing any update to its mixed reality headset, the beta version of iOS 16 codenamed Sydney is expected to be filled with updates for the headset and its possible interaction with the iPhone.
This indicates that the mixed reality headset is expected to be released during the life cycle of iOS 16, which will intensify competition with it Microsoft (MSFT - free report) and ID pads (FB - Free report) in the augmented reality space.
Microsoft's HoloLens 2, a mixed reality device, has gained enterprise adoption and customer attention by developing the next generation of computing by combining mixed reality and Dynamics 365.
However, Apple's main competitor in the augmented reality space is the Ray-Ban Stories smart glasses from Meta Platforms, which were developed in collaboration with EssilorLuxottica, as they indicate the company's keen interest in building a completely virtual world.
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