Apple Expected to Unveil Premium Anniversary $1000 iPhone
Apple Inc. (AAPL) - Get Report shares were marked notably higher in premarket trading Monday amid multiple media reports that its new anniversary iPhone will carry a $1,000 price tag ahead of the company's biggest product launch in years this week at its California headquarters.
The reports suggested a so-called "Anniversary iPhone" will be unveiled Tuesday in Cupertino alongside two new iPhone products, an Apple Watch and an upgraded version of Apple TV and will mark the first appearance and CEO Tim Cook at the company's Steve Jobs Theatre on its new Apple Park campus.
The new premium iPhone, however, is likely to steal the market's attention, given both the dominance of iPhone revenues to Apple's top line and its reported $999 price tag, which could prove to a be a significant test of customer loyalty amid so-called "upgraded" fatigue and intense challenges from rivals such as Samsung Electronics and HTC.
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