Apple Unveils New Products at its 'Time Flies' Event
Earlier today, Apple (AAPL) hosted an event that included a presentation on an eclectic line of new products and software. Nothing broadcasted caught anyone too off-guard, but there were a few updates worth noting for current and prospective Apple consumers (and of course, investors). Below we delve into the specific products that were rolled out.
Apple Watch Series 6 - Starting at $399, the new Apple Watch Series 6, the product’s “most colorful lineup ever,” will feature a wide range of styles. Its new features include a sensor and app that allows users to detect their blood oxygen levels, which helps determine how much oxygen is actually flowing through someone’s blood. It performs this function by shining red and infrared lights onto the wrist while detecting how much is reflected back; the whole process completes in just 15 seconds.
Apple Watch SE - A slightly more budget-friendly watch, Apple offers the Watch SE, and while it’s slower than the Series 6, is still twice as fast as the previous Series 3. It lacks the new blood oxygen sensor that the Series 6 had boasted, but still performs all essential functions that customers have always known and loved such as phone calls, fitness tracking and fall detection. The Watch SE clocks in at $279.
8th Generation iPad - The new iPad seems fairly similar to previous models, but has a few key upgrades. For one, Apple has leveled up its processor to an A12 Bionic chip, which allows the 8th generation to have 2x faster graphics than before. It was likely in Apple’s best interest to not pursue any drastic exterior changes, especially considering it boasted the #1 customer satisfaction for 10 straight years. The new product will be available in gray, silver and gold colors and will start at $329, and education customers can purchase it at $299.
iPad Air - The iPad air, on the other hand, has undergone some serious design alterations, and now looks more similar to its counterpart, the iPad Pro. They’ve implemented a new Touch ID system that’s actually built into the power button on the top of the frame. In addition, it will feature a USB-C charging port, making it a more universal charger among Apple products. All in, a great buy at the price of $599 if you can’t afford the iPad Pro.
Fitness+ - Apple has also announced its very own fitness program that brings your exercise routine to your screen. It’s built as an extension of the Apple Watch and provides a comprehensive fitness program, ranging from Strength Training to Mindful Cooldown. A majority of the workouts can actually be completed with dumbbells or no equipment at all. The service costs $9.99/month or $79.99/year. Shares of Peloton did take a hit on the announcement so it will be interesting to see how analysts and Peloton shareholders view the news in coming days.
Apple One Services - For Apple fanatics, there’s now a bundle that allows users to save on many services that include Apple Music, Apple TV+, Apple Arcade and 50GB of iCloud Storage. This service is priced at $14.95/month, compared to around $21/month if you bought each service individually. Other bundles are also available at various price points, though some may be region specific for the time being.
iOS 14 - Coming out tomorrow, Apple will release its new iOS system to all iPhones (6s and newer). It will show users widgets on their home screen, and offer a new way to organize your applications with the newly minted App Library. It’ll also bring in the picture-in-picture mode, which was previously only available on the iPad. It’s a hefty update, but one that definitely seems worth it for those with later model iPhones.
Environmental Impact - Apple didn’t just introduce a new line of products, but also emphasized their effort to limit the company’s impact on the environment. All offices, retail stores and data centers currently run on renewable energy, and the California-based company has reduced its carbon footprint by 35% since 2015. In fact, Apple plans to be 100% carbon neutral by 2030, and is currently producing its iPad on 100% recycled aluminum. Lastly, they’ve removed the USB power adapter from new Watch sales, which the company noted equivalent to removing ~50,000 cars from the roads every year!
Disclosure: At the time of publication, we have no positions in any of the securities mentioned in this article. We wrote this article ourselves, and it expresses our own opinions. We are not receiving compensation for creating this article (other than from TheStreet) and have no business relationship with any company whose stock is mentioned in this article.