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Apple, Inc. (NASDAQ: AAPL) shares were spiking to an all-time high Tuesday after Cupertino sent out invites to its much-awaited hardware event.
What Happened: Apple announced in its Apple Events page that it has scheduled a live event titled "California Streaming" at 10 a.m. PDT on Sept. 14. A video of the event schedule was also shared by Greg Joswiak, Apple's SVP of worldwide marketing, on Twitter.
— Greg Joswiak (@gregjoz) September 7, 2021
The event can be viewed online at Apple.com or on the Apple TV app, the invite said.
Related Link: Why Apple Is A 'Top Tech Name' To Own Right Now Why It's Important: Apple's hardware events are a market mover. The company is widely expected to launch the next iteration of its iPhone, referred to as the iPhone 13, at the event. The launch timeline is slightly ahead of what the market was bracing for. Wedbush analyst Daniel Ives said in a report last week he expects iPhone 13 to be launched in the third week of September.
iPhone Asia supply chain builds were in the 90 million range, up from the initial iPhone 12 initial reads at 80 million units, Ives said. This reflected increasing confidence that Apple's 5G-driven product cycle will extend well into 2022, he added.
The iPhone 13 will have a 1-terabyte storage option, double the highest Pro storage capacity, and will also include a number of key enhancements with lidar across all iPhone 13 models, according to Ives' predictions.
Reports also suggest the iPhone 13 models will be similar to its 2020 counterparts in size and will have high refresh rate screens, smaller display notches and improved cameras.
On the flip side, it is expected that iPhone 13 might be costlier, given that Apple's chip supplier Taiwan Semiconductor Manufacturing Co. Ltd. (NYSE: TSM) is reportedly planning to raise chip prices by as much as 20%.
The new iPhone could have an astrophotography mode, the Verge said, basing the premise on the video shared by Joswiak that ends with the perspective shifting up to linger on the stars above.
It could also mean Apple might be announcing the rumored satellite link features for iPhones, the report said.
Apart from the flagship product, Apple could also unveil its Apple Watch Series 7 and its next entry-level AirPods.
AAPL Price Action: Apple shares were trading 1.63% higher at $156.82 Tuesday afternoon.
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