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August 31, 2018updated 03 Sep 2018 11:42am

Apple share price rockets in anticipation of iPhone launch

By Ellen Daniel

The Apple share price has reached an all-time high as details about its September launch event are revealed.

The company announced that the Apple Special Event 2018 will take place at the Steve Jobs Theater at the Apple Park campus in California on September 12. Although Apple has not released any details about the event, it has been widely speculated that it will include some major product launches.

What might be launched

The event is thought to include a first look at the new iPhone handset. Based on the gold colour scheme of the announcement, some have predicted that a gold model of the iPhone X may be revealed.

Despite details of the event remaining vague, Apple share price has risen to a record high in response to the announcement, reaching a peak of more than $228 a share.

At last year’s Special Event, Apple launched the iPhone X, iPhone 8, series 3 Apple Watch, Apple TV 4K, iOS 11 and watchOS 4. Based on this, it is likely that the company will debut some other hardware and software updates alongside the latest iPhone.

According to technology website 9to5Mac, it can “exclusively share” that 5.8-inch and 6.5-inch iPhones, named the iPhone XS, will be unveiled at the launch. It has also speculated that a new version of the Apple watch will be featured at the event. This was accompanied by what are reportedly leaked images of the new iPhone X.

As has previously been the case, Apple will likely release the new products to the public in the same month as they are launched.

Experts share their predictions

In response to the news, managing director of electronics at musicMagpie Jon Miller told Verdict his predictions for the launch:

“With the date for Apple’s Special Event announced yesterday, the rumour mill has been spinning! From news reports and industry analysis, we predict that Apple will unveil three new phones – one with a larger display, one with a cheaper edge-to-edge screen, and a possible gold-coloured successor to the iPhone X.

“In addition to the new phones, we predict that the company will also unveil a new version of the Apple Watch which, again, we believe, will have a larger display and reduced edges – features that seem to more prominent in Apple’s newer devices. However, Apple love to spring a surprise, so there’s the potential for them to announce something completely different too.”

Head of  technology and innovation  at The PHA Group Nick Braund believes that the launch could also include a cheaper version of the pricey iPhone X:

“This time, with the launch of the new iPhone, I think we’ll see a much more cost efficient version of the X, including features like Face ID but in a much cheaper model. A big thing will also be improving Apple pay and partnering with other organisations to improve their secure payment options, so I think we’ll see better systems being build for this. As announced earlier this month, we won’t be seeing group FaceTime calls just yet which will have been a big loss for Apple, with the likes of new apps, House Party and WhatsApp’s group video call feature.”

The Apple share price continues to rise

The iPhone X has had a significant impact on Apple’s performance this year, even with its near-thousand dollar price tag. iPhone X sales have contributed to a revenue of $53.3bn last quarter, an increase of 17% year-over-year.

Apple also benefitted from business magnate Warren Buffett singing its praises in a recent interview with CNBC, in which he confirmed that he had bought more shares in the company earlier this year, contributing to the rise in the Apple share price.

This is despite the company’s third quarter report, published in July, suggesting that iPhone sales have started to stall, with the number of iPhones sold in the quarter increasing by just 1% from the previous year. This is reflective of a wider trend, as global smartphone sales saw their first year-on-year fall in history in 2017.

In a statement on Apple’s recent success, CEO Tim Cook said:

“Our Q3 results were driven by continued strong sales of iPhone, Services and Wearables, and we are very excited about the products and services in our pipeline.”

The company has reason to celebrate this year, after becoming the world’s first trillion dollar publicly traded company earlier this month. Apple stocks reached the $207.05 per share needed to reach the trillion dollar mark, beating Amazon to the milestone.

Nick Braund believes that despite a decline in smartphone sales, Apple remains at the top of its game:

“Even though we’ve seen sales of the newer models slow over the last few years, earlier this month Apple became the world’s first trillion-dollar company, showing they’re still the absolute market leader. We’ve seen the rise of competitors like Samsung, Huawei and Oppo, who are constantly innovating and releasing top devices. However, Apple devices still receive more hype than any other electronic consumer release and this year will be no exception.”

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