AAPL Stock Down 2%, Apple’s ‘One More Thing’ Event Happening Virtually Today

UTC by Steve Muchoki · 3 min read
AAPL Stock Down 2%, Apple’s ‘One More Thing’ Event Happening Virtually Today
Photo: Depositphotos

The ‘One More Thing’ event is to be held virtually from the Apple Park at 11:30 pm (IST) via the dedicated Apple Events mini-site.

Apple Inc (NASDAQ: AAPL) shares closed Monday’s trading session at $116.32, 2% down. The drop had further continued during Tuesday’s premarket as they were approximately 1.39% down. The downfall comes at a time when Apple is expected to unveil a new line-up of Silicon-powered Mac notebooks and computers during the November 10 ‘One More Thing’ event.

Apple has its market valuation at $2.02 trillion with 17 billion outstanding shares. With such rich cash reserves, Apple is capable of developing better and competitive chips away from the Intel ones.

The ‘One More Thing’ event is to be held virtually from the Apple Park at 11:30 pm (IST) through the dedicated Apple Events mini-site.

As the year comes to an end, Apple has released several new products into the market that will significantly bolster its stocks value in the near future. Among the notable products recently unveiled by Apple include iPhone 12 series that offers 5G network capabilities.

With the global smartphone shipments having declined significantly during the pandemic, Apple is competing with other global smartphone makers including Samsung and Huawei on the available market.

In addition, Apple unveiled the Apple One bundled subscription that offers subsidized bundled products.

As a result, the company anticipates to see its revenues scale much higher in the coming quarters. This is further bolstered by the fact that a possible coronavirus vaccine may put the pandemic to an end hence reviving the market to greater extents.

What to Expect at Apple’s ‘One More Thing’ Event

Rumors are that Apple will be decoupling from Intel chips that have powered the Macs for the past 14 years. It is expected that the next generation of Mac laptops will be powered by ARM-based Apple Silicon.

This was hinted during the 2020 worldwide developers conference where the company previewed a Mac powered by Apple A12Z Bionic chip. Apparently, the shift from the Intel chips dependency to Apple A12Z Bionic chip will further make the iOS 14 and the Mac products more compatible.

It is expected that Apple will at least launch one Mac series notebook and perhaps a desktop during the ‘One More Thing’ event today. It was previously reported that Apple is ramping the production of a new 13-inch MacBook Air, 13-inch MacBook Pro, and 16-inch MacBook Pro, and will show at least the two 13-inch laptops on Tuesday.

Apple is also expected to unveil the future dates for the macOS Big Sur (macOS 11.0) rollout. In addition, the company is expected to unveil the AirTags and also an updated version of Apple TV.

With Apple set to cancel further supply from Intel Corp (NASDAQ: INTC). Intel shareholders are set to feel the heat in the near future with decreased demand.

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Steve Muchoki
Author Steve Muchoki

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