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Apple’s latest affordable handset offering comes just at a time when the global markets and consumer spending has gone lower. The new iPhone SE comes with powerful hardware similar to the iPhone 11 along with several other features. AAPL stock is up now.
After taking a severe beating in this global market correction, Apple stock now aims to kickstart its northward journey again. On Monday, Apple Inc (NASDAQ: AAPL) stock was up 2.88% climbing above $275 levels. At the press time, in the pre-market, the stock is 0.051% down.
Apple (AAPL) Stock Price Changes
Since mid-February 2020, the Apple (AAPL) stock corrected nearly 30% along with the wider market correction due to the COVID-19 pandemic. Just in a month’s time, the company lost $400 billion from the erosion of its market cap. By the last week of March 2020, Apple stock was already trading below $230 levels.
Apple remains one of the most widely impacted companies by the coronavirus outbreak. With the coronavirus outbreak in China in February 2020, the Chinese government asked manufacturers to shut down their factories to control the spread. Now Apple’s global supply chain is largely dependent on Chinese manufacturers.
Thus, Apple was facing a severe delay in its shipments bringing major disruption to its supply chain. With orders piling at the other end, Apple has been struggling to deliver its products to its customers. However, manufacturing in China has started resuming and Apple is pulling all gears to get things normal.
The AAPL stock price has recovered back from its lows gaining 20% since then. At press time, Apple is trading $276 with a market cap of $121 trillion. despite all the uncertainty around, Apple hasn’t shied away from launching new products in the market.
Last month, the company launched its new MacBook Air and iPad Pro based on the LiDAR system. Moreover, just last week, Apple also launched its new iPhone SE handset, it’s first affordable handset in four years.
iPhone SE Can Be the Revenue Catalyst for Apple
For over the last many, Apple hasn’t really relied on low-cost or affordable segment products to build its revenue. The tech giant has been consistently able to put quality high-end handset, laptops, and other tech accessories in the market. We all know that Apple products come at a premium. So, what’s special about the new iPhone SE.
Well, the new iPhone SE is Apple’s compact and affordable offering to its costumers and followers. The handset comes with a 4.7-inch screen and a form-factor similar to the iPhone 8. The great thing about the new iPhone SE is that it packs hardware similar to the latest iPhone 11. Yes, the new iPhone SE comes with the most-powerful A13 bionic chipsets with software handling capabilities similar to the iPhone 11. In addition to it, the handset is also having very good camera performance, one of the major USPs of Apple devices.
Besides, the iPhone SE also comes at an attractive price-point of $399 for its 64 GB variant. Now, with the global economic scenario looking bleak, the iPhone SE could be the best offering coming from Apple for consumers who aren’t willing to spend much at these uncertain times.
If you’re really planning to buy a new handset this year, the new iPhone SE is something you won’t regret making a purchase.