Apple Inc. is set to hold its first media event today called "Let us loop you in". Expectations for the event are a bit muted unlike its previous ones which saw the release of the Apple Watch. Apple Inc. generally holds two big events a year with the spring version being smaller scale in comparison. Regardless, rumors have surfaced that Apple Inc. will be unveiling a 4-inch iPhone SE alongside a 9.7 inch iPad and new Apple Watch bands at the conference. On the software side, Apple is expected to announce updates to its iOS 9, WatchOS 2, tvOS and OS X El Capitan. While the product line up today does not figure any disruptive new products into the equation, the media event today could likely spark optimism for the company's stocks, especially amidst an investigation into their security practices with the Federal government. The next court hearing in this case is scheduled for Wednesday, as rumors form that encryption will also be a significant part of the conversation for Apple execs.
iPad revenues fell to $7.1 billion, over 21.0% on a yearly basis in the fourth quarter of 2015. The new smaller models of the iPad are expected to cost from $599 onwards with 32GB and 128GB capacity. iPhone sales increased 0.40%, the slowest rate of growth since the iPhone was introduced in 2007, with many analysts still forecasting iPhone sales to continue to drop into the current quarter. Shares in Apple recently managed to break free above 102.5 - 100.5 resistance, after ranging sideways below this level since early January. If tested for support, Apple's shares could see a potentially rally towards the 112.85 which marks the next level of interest. In the near term Apple’s share prices are likely to float above the current levels of 102.5 – 100.5 as eventually the euphoria from today’s event is overshadowed by the developments from tomorrow’s court hearings. Apple’s event is scheduled to start at 10AM US Pacific Time.
'Let us loop you in' - Apple's first media event of 2016
Market Trends - 21/03/2016