Apple unveils iPhone 12 with 5G, including ‘Mini’ and ‘Pro’ versions
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Apple may face a lukewarm holiday season due to the coronavirus pandemic, said Jake Dollarhide, chief executive officer of Longbow Asset Management in Tulsa, Oklahoma.
“As the convergence of flu season with COVID and colder weather forces everyone indoors, I think it’s going to be harder to sell iPhones this Christmas. As much as Apple is a technology company, it’s not known for its online sales, it’s known for its in-store experience,” Dollarhide said.
Shares of Apple fell over 3% during the event, erasing $77 billion worth of stock market value, and closed down 2.7%.
Apple also announced a HomePod Mini smart speaker that will cost $99 and be shipped from Nov. 16. Many of the features serve as a catch-up to similar offerings from Amazon.com Inc and Alphabet Inc’s Google.
But Ben Bajarin, principal analyst for consumer market intelligence at research firm Creative Strategies, said Apple had fleshed out its vision for how its devices could interact more directly with its own speakers than rivals had. For example, Apple customers can speak into their iPhone or iPad to use the HomePod Minis like an intercom system.
“That’s not something that Google or Amazon, particularly Amazon, can do so cleanly,” said Bajarin. “The advantage Apple has that they pressed on is that a good portion of those (Google and Amazon) customers have iPhones. They leveraged the fact they own the pocket.”