Christopher Haruna Hamman is a Freelance content developer, Crypto-Enthusiast and tech-savvy individual. He is also a Superstar Content Developer, Strategy Demigod, and Standup Guy.
Apple (AAPL) stock price fell by almost 1% yesterday after the smartphone maker unveiled its new iPhone SE. Today in the pre-market, the stock is in the green.
Apple Inc (NASDAQ: AAPL) stock price fell by about 1% at yesterday’s close. As at the time of writing, in the pre-market, Apple (AAPL) stock is at $288.25 (+1.34%).
The introduction budget iPhone SE as it is called was not followed by the bells and whistles. Instead, a series of press releases were sent out by a series of press releases. The reception of the phone and its toned-down features was positive.
This comes at a time when consumers are becoming more budget-conscious as the world economy teeters on the brink of a recession.
Priced at $399, this model offers a breather to those Apple fans who want to own an iPhone but don’t have the funds to purchase the pricier models.
Apple (AAPL) Stock Price Is Unstable as Company Struggles with Rivals
It is also good news for Apple who has struggled among those who prefer other smartphones. It also creates competition for Smartphone makers who use Google‘s Android OS. Android has dominated the markets for a bit.
Apple can now at least get its foot in the door comfortably without any bother.
The technology giant has fared evenly across the board. Its hardware business has suffered just like others. But, its retail stores have reopened in China. This has led to a whopping 2.5 million shipments of recent.
Its service business has been so-so. Many had expected Apple TV to go head-to-head with streaming favorites Netflix and more recently Disney +. The reverse has been the case. Apple TV has had a lackluster performance.
So much so that many Apple pundits are predicting the acquisition of the Walt Disney Company (NYSE: DIS) by the trillion-dollar technology giant. While this is possible, Apple’s management is yet to state its intentions in that direction.
As the COVID-19 situation continues to upend business, we are likely to see Apple try to change with the times. Its decision to allow innovation from home startled many skeptics.
With no major scandals, it seems like the company has found the perfect formula for survival at this time.
Apple may have just found a new path for company-wide evolution. Smartphones are getting cheaper as innovations are increasing. The costs of these new smartphones are decreasing rapidly. This trend has created a new paradigm where cheaper smartphones could be the decade-starter for technology companies.
Innovation Will Still Rule
Then again, we are dealing with the company that brought us the iPod and the world’s first truly working smartphone. That singular fact has made many people predict that Apple will still be able to pull a new device out of thin air.
They may be right too. Tim Cook has followed in the footsteps of Apple founder Steve Jobs. Innovation is present but as usual, kept under lock and key until the right time of the unveiling.
This year though will be the year for cheaper devices.