Will the new iPhone be enough to give Apple’s stock the boost it needs?
It looks like Apple’s new iPhone will be unveiled on September 10, according to the website All Things D.
There’s some speculation the company will offer a cheaper iPhone along with its newest model. Selling older versions of the iPhone allowed Apple to get some share of price-conscious consumers without seriously affecting its brand image.
A new, cheaper iPhone may also be important for other reasons. Apple has been in a patent tug-of-war with Samsung, with both sides claiming the other stole patents. At one point, the importation of older Apple iPhones was banned by the US International Trade Commission (ITC), which found Apple had used Samsung’s technology in part of the design. The ban was quickly vetoed by the Obama Administration. Last week, the ITC found Samsung also infringed on Apple’s patents.
Some of the new features speculated in the new iPhone include a fingerprint sensor, additional shell colors, and larger screens.
But will the new iPhone be enough to give Apple’s stock the boost it needs?
Apple’s stock price is now a little under $468. About 10% of that price is made up of the company’s cash balances. Shares are down 17% in 2013 and almost 28% over the past twelve months.
Looking at the charts on Apple are Talking Numbers contributor Richard Ross, Global Technical Strategist at Auerbach Grayson, and Abigail Doolittle, Technical Strategist at The Seaport Group. One is quite bullish, the other is bearish. Which one is right?
Watch the video above to see Ross and Doolittle analyze the technicals for Apple.
Coming up Wednesday: Ron Paul on Talking Numbers!