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Apple to unveil latest watch, iPad in virtual event

Yahoo Finance's Tech Editor Dan Howley joins Yahoo Finance’s The First Trade with Alexis Christoforous and Brian Sozzi to discuss what viewers can expect from Tuesday's Apple event.

Video Transcript

ALEXIS CHRISTOFOROUS: We are just a few hours away from getting a look at the latest Apple products. Tech Editor Dan Howley is with us now. So Dan, this is Apple's first ever all virtual product reveal because of the pandemic. What are we expecting?

DAN HOWLEY: Yeah, this is the first time, like you said, they're going to be showing off new products virtually rather than in person. Usually what happens is they make a big announcement, have everyone in the Steve Jobs Theater or whatever event space they're using, and then allow people to physically handle the products right afterwards. But this time, they're basically just going to be showing some pre-recorded videos and likely demoing the products in that fashion. It will be similar to what we saw with their WWDC event in June.

So what we're expecting today, unfortunately no new iPhones are likely. We're expecting those to likely come around October, maybe even the end of this month. But we will expect this time is new Apple Watches, new iPads, and potentially new over the ear headphones. First off, the Apple watches will likely be called the Series 6, and then there'll be an entry level Apple watch.

There's kind of rumors that it will be called the Apple Watch SE, something along those lines. It's not going to have all the bells and whistles of the Series 6, but it could offer a great entryway for a lot of people who don't want to spend the $399 [INAUDIBLE] the 6-- it will likely be priced similar to Series 5-- but do want to get into the Apple watch kind of environment. That should start at $199, similar to the Apple Watch 3 is currently priced.

That will include a lot of the basics while Series 6 should include improved battery life, improved performance, and a new blood oxygen sensor. That kind of helps position the Apple Watch to be more of a health care product, and that's really where Apple has been going over this time. They added an ECG meter to the Series 5, so you can see where they're kind of going with this.

Outside of that, we're expecting those over the ear headphones. Those could be called the AirPod Studio, and it's something that Apple has yet to do. They've done it with their Beats brand for sure, but they haven't done over the ear headphones. But based on the quality of the AirPods themselves, they should be pretty up there in terms of sound and likely price. The AirPods Pro start at 249 right now, so you can imagine that those studio devices might be a little more expensive.

But then, of course, we're expecting a new kind of iPad. This is going to be the base version of the iPad, probably an iPad Air, and a base version, rather. And they shouldn't have edge to edge screens. That's something that we haven't seen outside of the iPad Pro, so it should be an interesting add. We'll just have to see what that does for pricing.

BRIAN SOZZI: Yeah, and curious, Dan, curious to get your take on this. What this event really highlights is how important non-iPhone products will be for the next decade for Apple in terms of sales and profits.

DAN HOWLEY: Yeah, exactly. So what Apple is trying to do really is ensure for investors as well as itself, obviously, that it's not as heavily reliant on the iPhone as it has been in the past, and they've been doing that for some time now. Tim cook instituted kind of this measure where he wanted to double the revenue of the services side from 2016, and he's already done that. They're leaning more into accessories. They're leaning more into iPad and Mac to really pull their own bootstraps up and really help the company gird against any potential investor backlash from potentially not as high as a turnover for iPhones.

And really, that's kind of coming from the Apple Music Store, Apple TV Plus, services in terms of Apple Care, and then, of course, those accessories with the AirPods, the Apple Watch. And then more frequent improvements to the Mac line. Something that we haven't really seen in the past, but we're seeing a lot more of. And obviously, they also want to ensure that that doesn't push them to sell out in terms of margins, so that's why they're pulling in-house their chip designs instead of going with Intel.