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Apple (AAPL), which needs little introduction, recently hosted its ‘Wanderlust’ event, with many tuning in and watching like hawks. It’s easy to understand why the event was such a big deal, as the company has become a favorite among investors following years of outperformance from shares.

However, since the beginning of August, AAPL shares have lost roughly 10% in value compared to the S&P 500’s 2% decline. Fears of weakening iPhone sales in a maturing smartphone market have had investors feeling a tad nervous, particularly following increasing competition with Huawei.

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Let’s take a closer look at a few key announcements from the technology titan during its event.

iPhone 15

Apple unveiled the details surrounding its new iPhone 15 and iPhone 15 Pro, the event's primary focus for many.

Interestingly, the iPhone 15 Pro will be the company’s first model with an aerospace-grade titanium design, giving it a sleek look. The model is powered by an A17 Pro chip, has a customizable action button, and boasts the iPhone’s most powerful camera system ever.

Most importantly, the iPhone 15 Pro will support USB-C with USB-3 for improved charging speeds, a feature many requested for years.  

Regarding the standard iPhone 15 model, a new 48-megapixel camera that provides super-high-resolution has been added. In addition, the model has color-infused glass and an aluminum design, looking similar to the models we’ve been accustomed to.  

The iPhone 15 Pro starts at $999, whereas the standard model starts at $799. Apple generated roughly $39.7 billion in iPhone revenue throughout its latest period, slightly below the Zacks Consensus Estimate and falling 2.5% from the year-ago quarter.

Apple Watch Series 9

The company also unveiled the Apple Watch Series 9, which looks highly impressive from the get-go and boasts the most powerful watch chip yet. The new dual-core CPU has 60% more transistors than the Series 8 chip, and its new four-core Neural Engine processes machine learning tasks up to 2X faster.

Still, the most exciting feature of the new Apple Watch is what’s being referred to as ‘Double Tap.’ Consumers can simply double-tap their index finger and thumb together to make calls, open notifications, play music, and more.

The watch’s display is twice as bright, boasts better Siri dictation, offers HomePod control, and starts at $399. The Apple Watch, along with AirPods, have been solid growth contributors to the company’s top line, with Wearables, Home, and Accessories revenue of $41.2 billion in FY22 growing 35% since FY20.

Bottom Line

Technology heavyweight Apple hosted its ‘Wanderlust’ event recently, providing a peek behind the scenes of new products. Of course, the iPhone 15 was the focal point, with the Apple Watch also seeing considerable attention.

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