Shares of Apple rose on Wednesday after the tech giant announced a slate of new products. Apple’s share price rose $5.51 (+3.50%) to $162.95.
Joe Tenebruso for The Motley Fool:
The newest version of the iPhone SE will feature 5G capability, a faster processor, and an upgraded camera. It will be priced as low as $429.
Apple hopes its less expensive phones will entice more people to join its ecosystem. Once a person purchases an iPhone, they tend to remain a customer and buy other Apple devices over time. Each new iPhone user also represents another potential subscriber for Apple’s high-margin services.
Better still, Apple’s new computers are helping to highlight the impressive performance of its M1 processors. By designing its own chips, Apple can better integrate its hardware and software, thereby maximizing their combined capabilities. That’s giving Apple an edge over its rivals, and it should help to drive the tech titan’s sales and profits higher in the coming years.