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Apple is expected to highlight its smartwatch, iPad and subscription services on Tuesday as it strives to reignite growth with a must-have holiday line.
A highly anticipated 5G iPhone that is considered vital to the company’s fortunes will likely star in a separate event later in the year due to the disruption in production caused by the pandemic, according to analysts interviewed by AFP.
Shares of Apple that had soared fell more than seven percent this week.
The Silicon Valley-based iPhone maker had a market value of $ 1.92 trillion based on share price on Friday, down from a record $ 2.3 trillion earlier this month.
But Apple is still the most expensive company on Wall Street. Amazon ranks second with a market value of $ 1.56 trillion and Microsoft ranks third with a value of $ 1.54 trillion.
Also read: New Apple Watch details appear online ahead of launch
The Apple event was sparked with a cryptic invitation that read “Time flies.” The company has not said anything about what it has in store.
It is expected to showcase products or services other than iPhones that will be released for the end of the year shopping season.
That opens up the possibility of updates to Apple Watch, iPad, MacBook computers, services, and even Apple TV set-top boxes, according to analysts.
A new iPad model could include enhanced augmented reality capabilities, and Apple services such as music, news and television could be offered in a subscription package at an attractive price, analysts said.
The latest software that powers the Apple Watch already indicates that sleep tracking is coming, and the company may improve the features for health or fitness uses.
“There is competition in the smartwatch space, but Apple is the best seller by a wide margin and there is room for Apple to develop its leadership,” said Techsponential lead analyst Avi Greengart.
“Apple has admitted that at least they are working on controlling blood sugar with the watch – it would be huge if they could pull it off.”
Apple Watch also serves as an anchor for the tech giant’s mobile software, as it syncs with the iPhone.
“The key part for Apple is maintaining the iPhone user base and selling them a ton of accessories like AirPods and getting services,” said Moor Insights and Strategy analyst Patrick Moorhead.
The time has come for Apple to hit the market with an iPhone designed for ultra-fast 5G telecommunications networks that are taking root around the world.
Greengart is among those who expect Apple to host a separate event, perhaps in October, for new iPhone models, including one for 5G telecommunications networks.
5G networks are touted as an exponential leap in the amount and speed of wireless data, enabling advancements in autonomous vehicles, virtual reality, connected health, and more as sensors and servers instantly communicate.
“Apple absolutely needs 5G right now,” Greengart said.
Read: Apple reviews App Store guidelines, easing some in-app payment rules
“Not for the United States, but for China, where 5G is driving purchasing decisions.”
Apple’s rivals have already introduced 5G models, and China is far ahead of the US when it comes to next-gen networks.
“5G is happening in China with or without Apple; in fact, more 5G phones are sold than non-5G phones in China,” said analyst Moorhead.
“US carriers are waiting for Apple to announce a 5G iPhone in order to put the pedal to the metal in the US.”
US telecommunications companies are viewing a 5G iPhone as a catalyst for consumer interest that will justify the large investments required for those networks, according to analysts.
Next-generation 5G networks have also formed in South Korea and parts of Europe.
Apple also needs a 5G-tuned iPhone to maintain its premium brand image, the analysts added.
“Because of all the rumors from the supply chain that the iPhone is taking a bit of a delay, they will want to announce it closer to the launch date,” said Technalysis Research chief analyst Bob O’Donnell.
Baird Senior Research Analyst William Power said in a report to investors that Apple’s “ecosystem” appears robust due to its wearable devices, services and the potential iPhone 5G.
