Apple has officially announced its ‘It’s Glowtime’ event for September 9, 2024, at 10 a.m. PT at the Steve Jobs Theater in Apple Park, Cupertino. The event will be live-streamed globally via Apple’s website, the Apple TV app, and YouTube. Interestingly, the date was moved forward by one day to avoid conflicting with the first U.S. presidential debate.The star of the show will be the iPhone 16 series, comprising four models: iPhone 16, 16 Plus, 16 Pro, and 16 Pro Max. Key upgrades include larger displays for the Pro models (with the Pro Max approaching 6.9 inches), improved camera capabilities, and a new dedicated camera button for capturing photos and videos. All models are expected to feature the new A18 chip, with Pro models potentially having 8GB of memory.Apple’s foray into artificial intelligence, branded as ‘Apple Intelligence,’ will be a significant focus of the event. These AI features are expected to enhance user experience through functionalities such as email response suggestions, image creation, and a more intuitive Siri that users can interact with via text. However, some of these features may not be immediately available, with full AI capabilities coming in the iOS 18.1 update in October.In addition to the iPhones, Apple is set to unveil the Apple Watch Series 10 and new AirPods. The Apple Watch update may include a new chip and larger displays with a thinner design. The AirPods lineup is expected to see new models, including a budget-friendly version and a mid-tier model with noise cancellation.Wedbush analysts are particularly bullish about this launch, predicting it could mark the beginning of Apple’s ‘largest upgrade cycle’ in history. They estimate iPhone 16 sales could exceed 90 million units in the first months after launch, potentially driving Apple’s market capitalization above $4 trillion.In a surprising announcement, Apple also revealed a change in its executive leadership. CFO Luca Maestri will be replaced by Apple veteran Kevan Parekh on January 1, 2025. Maestri will continue to lead teams focused on IT, security, and real estate development.The timing of this event is crucial for Apple, as the company aims to reverse a global sales slowdown, particularly in China. Despite recent challenges, Apple’s stock has risen 26% in the last 12 months, currently trading at $227.18 U.S. per share.As Apple faces increasing competition in AI integration from rivals like Samsung and Google, this event represents a pivotal moment for the tech giant to reassert its position at the forefront of consumer technology innovation. With the promise of new AI capabilities and hardware improvements, Apple is setting the stage for what could be a transformative product cycle, although some analysts caution that the full impact of these AI features may not be immediate.
Key points
- Apple’s ‘It’s Glowtime’ event on September 9 will unveil the iPhone 16 series with new features and AI capabilities.
- Wedbush analysts predict this could be Apple’s largest upgrade cycle, potentially pushing its market cap above $4 trillion.
- Apple announced a leadership change, with Kevan Parekh replacing Luca Maestri as CFO on January 1, 2025.
- The event is crucial for Apple to reverse recent sales slowdowns and compete in AI integration.
Contradictions👾While some sources suggest immediate availability of AI features, others indicate that full AI capabilities will come with later iOS updates.
👾Analysts differ on the immediate impact of AI features, with some predicting a ‘super cycle’ while others caution about potential delays in consumer adoption.
