Apple to reveal new iPhones, reaching $1T market cap

Avatar By Le Williams | 2 years ago

Apple Inc. is positioned to unveil a new generation of iPhones in the coming month, releasing a solicitation to members of the press Thursday morning inviting them to “Gather Round” the Steve Jobs Theater in Cupertino, California on September 12th.

The tech titan is expected to announce three new iPhones, as well as upgrades to the iPad, Mac, and Apple Watch.

In commonality, the three new iPhone models will all do away with the home button, mimicking the design of last year’s $1,000 iPhone X model, according to a Bloomberg report on Monday.

The new iPhones will tout significantly larger, edge-to-edge screens. The comprehensive model will boast a 6.5-inch OLED screen, dominating the iPhone X’s 5.8 inches and 5.5 inches for the iPhone 8 Plus, according to Bloomberg.

The new line is expected to include a cheaper iPhone aimed at more budget-conscious customers.

Featuring a 6.1-inch edge-to-edge display, the smartphone will, unfortunately, be of lower-quality LCD, made of aluminum like the iPhone 8 instead of stainless steel like the X.

Notably, Apple beat top and bottom line expectations in its latest quarter, sending shares to an all-time high in after-hours trading, bringing the company ever closer to the elusive $1 trillion market cap.

The iPhone maker posted the strongest fiscal third-quarter results in its history, with $53.3 billion in revenue, easily besting the $52.3 billion analysts had forecast.

“We feel great about the results on iPhone,” he said. “If you look at the top of our line together, they are growing very nicely,” CEO Tim Cook stated in an earnings calls with analysts.

Apple forecasts revenue of $60 billion to $62 billion for its fiscal fourth quarter, which will include early sales of soon-to-be-announced phone models, beating the $59.6 billion analysts expected.