Apple Annual Event Today: Curtain-raiser— What to Expect?
Addendum, in brief, what was actually launched.
Apple’s September 2024 Event: AI, iPhone 16, and More
At its annual keynote event slated for 9th September in Cupertino, California, Apple is once again at the forefront of technological advancements. This year, it plans to unveil its much-anticipated iPhone 16 series, updated Apple Watches, and new AirPods models, all featuring enhanced Artificial Intelligence (AI) capabilities. The brand’s move into AI is a calculated effort to make devices smarter, more intuitive, and ultimately, indispensable.
With significant hardware updates and the introduction of “Apple Intelligence” tools, users can expect improved interaction with their devices, pushing the boundaries of everyday technology.
iPhone 16 and 16 Pro: What’s New?
The centrepiece of Apple's event is the iPhone 16 series, but those expecting a dramatic redesign will likely be disappointed. The iPhone 16, 16 Plus, 16 Pro, and 16 Pro Max models retain the familiar design of previous iterations, albeit with some subtle changes. The screens are marginally larger, thanks to the reduction in bezel size, giving users more display real estate without increasing the phone’s physical dimensions.
One notable change is the rear camera setup. The iPhone 16 and 16 Plus will feature a pill-shaped camera layout, reminiscent of the iPhone X. This change may be in preparation for Apple’s push into spatial video capture, which will likely pair with their Vision Pro headset, providing users with an immersive 3D experience.
The iPhone 16 series also introduces the Action button—a customisable feature that debuted on last year’s iPhone 15 Pro models, offering quick access to various shortcuts and functionalities.
Camera enthusiasts will be pleased to know that the iPhone 16 Pro models are receiving major upgrades. The ultra-wide camera has been improved, and new touch-sensitive buttons aim to enhance the user experience when taking photos or recording videos.
Apple’s Vision for AI: “Apple Intelligence”
A key theme running through the event is likely to be Apple’s AI, which it dubs "Apple Intelligence." While full details are still under wraps, Apple intends to increasingly integrate these AI features into its devices in stages, with some launching later this year and more significant changes, like an upgraded Siri, expected in 2025. These AI capabilities aim to automate tasks, anticipate user needs, and make Apple’s ecosystem more cohesive and intuitive.
However, Apple’s AI strategy has already faced some challenges. The “Apple Intelligence” system—designed to complement its strong emphasis on privacy—operates in three distinct tiers. First, processing is handled on-device for real-time tasks, ensuring immediate responses. Second, more complex operations are processed via Apple’s own data centres or cloud infrastructure. Finally, with explicit user consent, certain advanced tasks are routed to OpenAI servers for deeper processing. Despite this layered approach, the reception of these features has been somewhat underwhelming. The global rollout, particularly in Europe, has been delayed due to regulatory concerns over data privacy. As a result, the widespread adoption of “Apple Intelligence” has been slower than expected, especially in comparison to AI offerings from other tech giants.
This focus on AI could still spark a fresh wave of iPhone upgrades, especially among those holding onto older models.
Apple Watch: Celebrating a Decade
On the 10th anniversary of the Apple Watch, the company is celebrating by releasing a revamped lineup. The Apple Watch Series 10 models feature slightly larger screens housed in slimmer bodies. While these design changes make the Watch sleeker, there has been no official word on how it will affect battery life—a crucial aspect for many users.
Apple is also updating the rugged Apple Watch Ultra, and rumours suggest that a new, more affordable Apple Watch SE, with a plastic body, may also be unveiled.
More importantly, WatchOS has been updated to include health-focused features. A significant addition is a function to detect signs of sleep apnea, a common condition linked to poor sleep quality and other health risks. This feature could prove life-changing for users who may be unaware of their condition.
AirPods: New Features on the Horizon
Apple is expected to overhaul its popular AirPods lineup. The new entry-level and midrange models will be redesigned to resemble the Pro series, offering a more uniform look across the range. Importantly, Apple will be transitioning to USB-C charging ports, finally doing away with the old Lightning cables.
A rumoured new feature could see AirPods doubling as hearing aids. This development, if true, could make AirPods more appealing to those with hearing difficulties, adding a health-centric functionality that complements Apple’s larger focus on wellness.
A Move Toward Enhanced Connectivity
This year’s event showcases Apple’s intent to blend hardware advancements with AI-powered software to create seamless experiences for users. From more intuitive iPhones to smarter Apple Watches, the goal is clear: to make technology work harder for users, automating tasks, improving health, and elevating everyday interactions.
Regulatory Concerns and Consumer Excitement
While Apple continues to innovate, the delayed rollout of its AI features and ongoing regulatory concerns, particularly in regions like Europe, raise questions about whether consumer enthusiasm will be affected. The slow adoption of “Apple Intelligence” could temper initial excitement, especially as competing AI platforms are gaining ground. However, Apple's long-standing reputation for delivering user-friendly, high-quality products may still give it an edge in the market despite these hurdles.
Stock Market Impact and Warren Buffett’s Divestment
The unveiling of Apple's new products is expected to influence the company's stock performance, which closed at $220.86 on September 6, 2024, with a staggering market capitalization of $3.358 trillion. Apple's stock has been under pressure recently, not only because of the broader NASDAQ slowdown but also due to Warren Buffett’s significant divestment of Apple shares. Buffett’s Berkshire Hathaway sold approximately 390 million shares in the second quarter of 2024, following a sale of 115 million shares earlier in the year. Despite this, Berkshire still retains around 400 million Apple shares valued at $84.2 billion, making it the company's largest stock holding.
Long-Term Outlook and Apple's Resilience
Despite short-term challenges, the underlying fundamentals for Apple remain strong. Any dip in the stock price due to underwhelming features or market reactions is likely to be temporary. Apple’s position as the world’s most valuable company by market capitalization is supported by its expansive ecosystem, which continues to lock in customers across multiple products and services. The company's push into AI and other emerging technologies could open new revenue streams, reinforcing its role as a leader in the tech industry1. Apple’s resilience and ability to innovate ensure that it will likely continue to be a major force in shaping the future of technology2.
Addendum: The Actual Launch
Everything Apple Just Announced: iPhone 16, Apple Watch Series 10, AirPods 4, and More
Apple’s much-anticipated September 2024 event at the Steve Jobs Theater in Cupertino, California, has wrapped up. This summary culled from the live coverage covers everything Apple revealed, from the iPhone 16 series to the new Apple Watch and AirPods.
Here's a breakdown of the major announcements:
iPhone 16 and iPhone 16 Plus
Apple introduced its latest flagship models, the iPhone 16 and iPhone 16 Plus. These new smartphones feature aerospace-grade aluminum with 85% recycled content in the enclosure. The iPhone 16 comes in two sizes: 6.1 inches and 6.7 inches (Plus). Key highlights include customizable action buttons and a brand-new A18 chip that promises 60% faster performance than the iPhone 12. The US prices start at $799 for the iPhone 16 and $899 for the iPhone 16 Plus, with preorders beginning this Friday, and availability from September 20.
iPhone 16 Pro and iPhone 16 Pro Max
Apple also revealed its premium models, the iPhone 16 Pro and Pro Max. The Pro comes with a 6.3-inch display, while the Pro Max sports a 6.9-inch screen. These models feature a titanium frame that’s both lightweight and scratch-resistant, with "the thinnest borders on any Apple product." The A18 Pro chip powers the iPhone 16 Pro’s new camera system, which includes a 48-megapixel ultrawide camera and 4K video capture at 120 frames per second. Preorders begin on Friday, with the iPhone 16 Pro starting at $999 and the Pro Max at $1,199.
Apple Watch Series 10
Marking the 10th anniversary of the Apple Watch, the Series 10 was announced with a refreshed design, including a polished titanium option and an updated S10 chip. The new model is 10% thinner and offers the largest display ever on an Apple Watch, even larger than the Ultra. Preorders are available now, with a starting price of $399 for the GPS model and $499 for the cellular version. It will be available in stores starting September 20.
Apple Watch Ultra 2
Apple also introduced the Watch Ultra 2, available in a satin black finish. It retains all the advanced features of the original, including dual-frequency GPS and depth sensors for scuba diving. Priced at $799, it’s available for preorder now and will hit stores on September 20.
AirPods 4 and Updated AirPods Max
Apple's AirPods 4 come with major design improvements, including 3D modeling for better comfort, powered by the H2 chip for enhanced sound quality. These AirPods start at $129, with a noise-cancelling version available for $179. Apple also updated the AirPods Max, now featuring USB-C charging and three new color options—orange, purple, and starlight. The Max remains priced at $549 and will be available starting September 20.
Apple Intelligence and AI Integration
The first set of Apple Intelligence features will roll out in beta next month for iPhone 16 and iPhone 15 Pro models. These AI-driven features, designed to improve user interaction across language, images, and context, mark the next step in Apple's AI journey. Among the new functionalities is a generative emoji feature and a Visual Intelligence tool that can identify objects like dog breeds from photos. Although some features will launch later this year, the broader rollout has faced delays due to regulatory issues, particularly in Europe.
Closing Thoughts
The Apple stock remained notionally in the red throughout the day’s trading, as the longish event unrolled, closing marginally in the green at $220.91.
Apple continues to push the boundaries of innovation with its new lineup of iPhones, Apple Watches, and AirPods, aiming to integrate AI more deeply into its devices. Despite some challenges in global AI feature rollouts, Apple's ability to blend cutting-edge technology with user-friendly design ensures its dominance in the tech industry. For more detailed coverage of each product announcement, check out the full blog below.
