Apple is set to unveil its three new iPhone 11's at its "By Innovation Only" event Tuesday. The new hardware is certainly hotly anticipated, but it's Apple's ability to funnel its existing user base of over 1 billion people into its improving suite of services that investors are watching vigilantly.
"The expectations here are so incredibly low," Jim Cramer said on TheStreet's morning show Monday. "If they do start talking about service revenues [at the event] it's gong to be great."
Expectations for iPhone 11 sales are indeed low -- with one analyst predicting 75 million units sold and 80 million should there be higher demand -- but it's possible Apple may want to build those 5 million extra iPhones, given the tech improvements.
"I think they're still innovating [on hardware] in a lot of ways," said TheStreet's tech columnist Eric Jhonsa. "They're expected to be the first one's to have 5G modems. You might have larger hardware improvements next year, but they're still innovating in ways such as cameras, processes, so it's more gradual... but the user base has stayed pretty loyal."
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