Apple is preparing for its highly anticipated Apple Event September 2024, expected to unveil the iPhone 16 series with groundbreaking AI capabilities. The annual Apple Event kicks off today, Monday, at 1 p.m. ET (10:00 a.m. PT) in Cupertino, California. As the tech giant introduces its latest lineup, excitement and pressure build around how well the new features, especially the artificial intelligence system, will perform.
‘It’s Glowtime’ — Apple’s Big AI Move
The event’s cryptic tagline, “It’s Glowtime,” has sparked widespread speculation about what Apple is set to reveal. Reports are claiming that the company will introduce the Apple iPhone 16 and highlight its AI-focused enhancements. These include advanced natural conversations with Siri, drafting emails, and easily sifting through vast photo libraries.
This year’s Apple Event 2024 will be crucial for Apple to demonstrate it hasn’t fallen behind in the AI race. With competitors already rolling out AI-powered features, Apple faces increasing pressure to deliver innovations that go beyond incremental hardware updates.
AI Meets iPhone: What to Expect
At the heart of the Apple iPhone 16 will be its integration with Apple Intelligence, the company’s AI system. It promises to offer users an unprecedented level of interaction. This system will allow for enhanced personalisation, from summarising chat conversations to providing highly relevant search results within users’ apps.
Analysts, including Gil Luria of D.A. Davidson, have highlighted that the Apple iPhone 16 Pro Max may also sport a new dedicated camera button. Combined with the upgraded processor chip, the phone will handle these AI features’ increased data processing needs.
Beyond AI, Apple may also tweak the iPhone 16 Pro Max’s design, with rumours of a wider screen and updated edges. These changes, though subtle, aim to signify an upgrade that visually sets the phone apart from previous generations. It’s a move to reignite the excitement for new iPhones, which has dwindled since the introduction of 5G in the iPhone 12.
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Addressing Sales Slumps
Sales of the iPhone, which account for half of Apple’s revenue, have been sluggish over recent years. With minimal groundbreaking changes in design and functionality since the iPhone 12, consumers have seen fewer reasons to upgrade. Even the highly praised camera enhancements are starting to plateau as further upgrades in resolution become imperceptible to the average user.
Analyst Dan Ives from Wedbush estimates that approximately 300 million iPhones have not been upgraded in over four years. Apple is betting that the Apple Event September 2024 will change this, driving a new wave of purchases by offering features that fundamentally alter how users interact with their devices.
Since the unveiling of Apple Intelligence in June, Apple’s stock has surged by 14%. Investors are clearly optimistic that AI will be the catalyst for reigniting the iPhone upgrade cycle, making today’s event even more significant for the company.
The Cost Question
Pricing is always a central concern for new iPhone models, and the Apple iPhone 16 is no exception. For the past four years, iPhone prices have started at $799. However, with the introduction of AI features, many analysts anticipate a modest price increase.
CFRA Research’s Angelo Zino suggests that Apple could raise prices across the board due to the cost of incorporating advanced AI capabilities. Still, the increase is likely to be small to avoid deterring customers. “They don’t want to lose customer enthusiasm because of sticker shock,” said Luria.
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Other Announcements: Apple Watch and AirPods
Beyond the iPhone 16 Pro, today’s Apple Event 2024 may also introduce other new products. Rumours suggest updates to the Apple Watch and AirPods, with the Apple Watch Series 10 expected to feature a thinner design and larger screen. New software updates for these devices were already announced at Apple’s developer conference in June, including head gestures for AirPods users to answer or decline calls.
Mark Gurman of Bloomberg reports that Apple may unveil two new AirPods models, one in the low-end tier and another in the mid-tier range. These updates would mark another step in Apple’s commitment to offering incremental improvements across its product ecosystem.
A Make-or-Break Event for Apple
The Apple Event September 2024 holds immense significance for the company. With rising competition in the AI space and years of stagnant sales growth, Apple needs to prove that its AI features are worth the upgrade. The iPhone 16 and its variants, including the iPhone 16 Pro and iPhone 16 Pro Max, will be central to the event, as they represent Apple’s most profitable product line.
With pre-orders expected to go live by Friday, September 13, the success of today’s event will set the tone for the company’s holiday quarter. As customers and investors alike await the unveiling, all eyes are on Cupertino to see whether Apple’s new vision can live up to the hype.
