Apple Inc (NASDAQ: AAPL) popped 2.5% in the stock market on Wednesday after the iPhone maker announced an event taglined “Peek Performance” for next Tuesday, March 8th.
What we know about Apple’s March 8th event
Invitations for the event were sent out to the media last night. Keeping in line with COVID precautions that Apple has followed since March 2020, the upcoming event will also be digital only, streaming on Apple’s website and YouTube.
According to media and analysts’ expectations, the American multinational will likely introduce a budget iPhone compatible with 5G connectivity and a built-in fingerprint reader on its March 8th event. They’re also anticipating a new mid-range iPad next week.
The new iPad, as per Bloomberg, could be an update to the iPad Air with a price tag of $599 at present. It was last updated more than a year ago in October 2020.
What else to expect from Apple’s March 8th event
Apple is rumoured to update its operating system on the upcoming event as well. The iOS 15.4 is expected to include a world of new features, including updated facial recognition that enables unlocking device even when the user has a mask on.
The new version of the software might also enable Apple devices to accept contactless payments (via credit cards) without the need of additional hardware.
The news comes just over a month after Apple reported record results for its fiscal Q1. The stock that trades at a PE multiple of 27.70 is down 8.0% for the year.
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