Because of the COVID-19 pandemic, Apple had to move its annual WWDC Developer Conference online. And today the company finally released the schedule of events. Starting on June 22nd at 10 am PDT (1 pm EDT), anyone can watch the keynote streamed live from Apple Park for free. During the keynote, we expect to hear more information about new features for iOS 14, iPadOS 14, watchOS 7 features, and more. Starting at 2 pm PDT (5 pm EDT) the same day, Apple will hold its Platforms State of the Union.
Apple will stream its WWDC keynote for free on June 22nd
Over 100 Engineering Sessions will be streamed from June 23rd to the 26th and these will reveal the new "technologies and design principles for the next generation of apps." On those same dates, members of the Apple Developer Program or Apple Developer Enterprise Program (as of June 11th at 9 am PDT) will be able to request a one-on-one lab appointment for "in-depth guidance on implementing new features." The WWDC streams should be available from the Apple Developer webpage and app. The latter can be downloaded for free from the App Store.
Apple will live stream its WWDC keynote on June 22nd starting at 9 am PDT
Apple's shares climbed from $307 at the beginning of May to set an all-time high yesterday at $354.77. As a result, more Wall Street analysts have started recommending the stock. According to Bloomberg, these Wall Streeters see two reasons why Apple has bounced 60% off the low of $224.37 it hit back in March when the pandemic started to close the U.S. One reason is that later this year, Apple will introduce the first 5G iPhone models. The second reason why analysts are so high on Apple has to do with its surging Services unit.
The next-generation of wireless, 5G will deliver download data speeds up to ten times faster than current 4G LTE data speeds. With 5G, a movie that takes 20 minutes to download over 4G will load in the blink of an eye. New technologies and businesses will be created that count on the faster 5G data speeds. While most Android manufacturers already have 5G models available, the 2020 iPhone 12 series will be the first from Apple designed with 5G in mind and will allow Apple to catch up to its rival phone manufacturers.
Bank of America analyst Wamsi Mohan says that Apple is hitting on all cylinders with an expected 20% hike next year from iPhone and wearables revenue. In a note to clients, Mohan also noted that Apple is benefiting from "continued penetration into [its] installed base, large net cash, and continued strong capital returns." When the analyst says that Apple is penetrating into its installed base, he is talking about the firm's Services business. In 2015, iPhone shipments peaked; somehow Apple brass correctly read the tea leaves and decided to focus on its installed base of iPhone users (which currently numbers close to 1 billion). So the company set a goal to double its Services revenue from $25 billion in fiscal 2015 to $50 billion in fiscal 2020.
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Under the Services umbrella are some subscription businesses that generate recurring revenue for Apple such as Apple Music, Apple Arcade, Apple News+, and more. The App Store, AppleCare+, iCloud, and Apple Pay are also included in this business segment. During the fiscal second quarter which covers January through March, Apple's Services unit brought in $13.35 billion in gross. That was the second consecutive quarter that Apple's Services unit reported revenue that exceeded a $50 billion run rate. In fact, for the first half of the fiscal year, Apple's Services unit took in over $26 billion dollars; barring a second-half collapse, Apple should be able to hit its $50 billion goal for this fiscal year.
Out of 45 securities firms tracking Apple, 29 have a buy rating on the stock, 12 have a hold rating and four recommend selling the shares.
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Alan, an ardent smartphone enthusiast and a veteran writer at PhoneArena since 2009, has witnessed and chronicled the transformative years of mobile technology. Owning iconic phones from the original iPhone to the iPhone 15 Pro Max, he has seen smartphones evolve into a global phenomenon. Beyond smartphones, Alan has covered the emergence of tablets, smartwatches, and smart speakers.
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