Apple Readies $75M 5G iPhones

Despite the still-ongoing Covid-19 pandemic, Apple (NASDAQ:AAPL) has high expectations for 5G iPhone sales, according to a new Bloomberg report on Tuesday, which says the $2.13T market cap company is pushing its suppliers to produce between 75 and 80 million 5G iPhones this year, a healthy number that’s on a similar scale as previous years.

The report also said the tech giant is expected to launch four new 5G-capable models sometime in October with a different design and a wider choice of screen sizes. Those models include the iPhone SE, Cupertino’s most cost-effective handset, the iPhone XR, and the iPhone 11 range.

It’s worth noting that there could be a difference in the exact 5G technology across models given Apple’s top-end 5G handset uses the next-generation of mobile apps, the millimeter wave 5G band – or mmWave, as it is also being referred to – which offers faster and ultra-low latency connection speeds than the Sub 6 Ghz spectrum.

The report also hinted towards a refreshed product lineup which includes a new iPad Air with slim bezels, similar to the iPad Pro, two new versions of Apple watches: a straight successor to the Series 5, and a lower-end Series 3 replacement which will compete with lower-cost fitness devices such as those from Fitbit Inc., and a smaller HomePod speaker.

A new Apple TV box with an updated processor for improved gaming and new remote control is also said to be in the works although it might not ship until next year. Finally, Bloomberg expects Apple to make its iOS 14 software available in September, despite the delayed iPhone releases.

AAPL Price Action

On Monday, shares of Apple rose 3.3% to $124.81 as investors continued to bid shares higher following the stock’s 4-for-1 split. AAPL was trading 2.61% higher Tuesday.

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