Apple's next iPhone mirrors last year's, adds more storage

Tuesday, September 14, 2021 | Michael Liedtke, AP Technology Writer


Seen on the screen of a device in La Habra, Calif., new iPhone 13 smartphones are introduced during a virtual event held to announce new Apple products Tuesday, Sept. 14, 2021. (AP Photo/Jae C. Hong)

SAN RAMON, Calif. (AP) — Apple unveiled its next iPhone line-up, including a model that offers twice the storage available in earlier versions and other modest upgrades to last year’s editions that proved to be a big hit among consumers devouring the latest technology during the pandemic.

The pre-recorded video event streamed Tuesday gave Apple a chance to present a polished story following a turbulent few weeks. The recent bumps included a hastily patched security vulnerability that could let hackers secretly take control of iPhones and other Apple devices; a backlash to the company's plans to scan iPhones for images of child sex abuse and a federal judge's ruling that chipped away further at the competitive barrier Apple built around its app store, which generates billions of dollars in profits each year.

As has been the case since Apple’s late co-founder unveiled the first iPhone in 2007, Apple executives talked reverently about the latest model, even though it isn’t dramatically different from the version Apple released nearly a year ago.

Like last year's model, the new iPhone 13 will come in four different designs, with prices starting from $700 to $1,100. They're scheduled to be in stores September 24.

“It's an incremental upgrade," said Gartner analyst Tuong Nguyen. “Some of the new features are impressive, but most of them are not noticeable or practical for most users."

Possibly the most notable change in the latest high-end iPhone 13 will be an option for a full terabyte of storage — that's 1,000 gigabytes — on the device, up from its previous maximum of 512 gigabytes. That's enough storage to accommodate roughly 250,000 photos, or about 500 hours of high definition video.

Having a massive amount of storage could become more important to many consumers with the advent of ultra-high definition video and ultrafast wireless 5G networks that will make downloading content faster and easier, Nguyen said.

Apple is also promising better cameras on the iPhone 13, including an improved ultrawide lens, a cinematic-like video feature and technology for better nighttime pictures. (The latter mirrors a feature Google has long offered in its line of Pixel phones, which haven't been big sellers yet.) As usual, the latest iPhones are supposed to have longer-lasting batteries, too.

“We keep making the iPhone more capable,” Apple CEO Tim Cook boasted.

These kinds of incremental upgrades have become routine for Apple and other device makers in recent years as the pace of smartphone innovation slowed, even while prices for some phones have climbed above $1,000. That trend has prompted more consumers to hold on to their older smartphones for longer periods.

But the release of last year’s iPhone 12 unleashed one of Apple’s biggest sales spurts since 2014, possibly because the pandemic helped make homebound people realize it was time to get a newer and better model than what they had been using. Through the first six months of this year, Apple’s iPhone sales have surged by nearly 60% from the same time last year.

That boom has helped push Apple’s stock price near its all-time highs recently, giving the company a market value of about $2.5 trillion -- more than twice what it was before the pandemic began 18 months ago.

Apple’s shares dipped 1% Tuesday in a sign that that investors weren't excited by what they saw in the new iPhones.

Although the iPhone is still by far Apple’s biggest moneymaker, the company has been trying to supplement its success with peripheral products such as its smartwatch. The Cupertino, California, company used Tuesday’s showcase to provide a preview of its next Apple Watch, which will feature a thinner, more rounded and brighter display.

Should you invest $1,000 in Apple right now?

Before you consider Apple, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Apple wasn't on the list.

While Apple currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The 5 Stocks Here

 


Companies Mentioned in This Article

CompanyMarketRank™Current PricePrice ChangeDividend YieldP/E RatioConsensus RatingConsensus Price Target
Apple (AAPL)2.8$146.82+0.7%0.60%28.73Buy$164.03
Compare These Stocks  Add These Stocks to My Watchlist 

MarketBeat - Stock Market News and Research Tools logo

MarketBeat empowers individual investors to make better trading decisions by providing real-time financial data and objective market analysis. Whether you’re looking for analyst ratings, corporate buybacks, dividends, earnings, economic reports, financials, insider trades, IPOs, SEC filings or stock splits, MarketBeat has the objective information you need to analyze any stock. Learn more about MarketBeat.

MarketBeat is accredited by the Better Business Bureau

© American Consumer News, LLC dba MarketBeat® 2010-2021. All rights reserved.
326 E 8th St #105, Sioux Falls, SD 57103 | U.S. Based Support Team at [email protected] | (844) 978-6257
MarketBeat does not provide personalized financial advice and does not issue recommendations or offers to buy stock or sell any security.

Our Accessibility Statement | Terms of Service | Do Not Sell My Information

© 2021 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see disclaimer. Fundamental company data provided by Zacks Investment Research.