AKURAT.CO, Apple Inc AAPL.O shares have surged this year even as the pandemic crippled economies around the world. This success was due in large part to rising product sales that beat Wall Street’s expectations.
Reported by Reuters on Tuesday (9/15/2020), Apple has introduced several major product updates, including the Apple Watch and iPad that will help determine whether the company can maintain its record. The device was featured on the www.apple.com/apple-events broadcast from its headquarters in Cupertino, California.
How new products sell out during the holiday shopping season in many western markets will largely determine how well Apple performs for the entire fiscal year starting this month.
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However, Apple admits this year will be a little different. First, sales of iPhones, which are still the company’s best-selling products, will be delayed by several weeks and potentially lead to lower sales.
But according to Ben Bajarin, principal analyst for consumer market intelligence at Creative Strategies, the introduction of the Apple Watch helps retain customers in Apple’s ecosystem for the long term. Even if they don’t buy a flagship iPhone as a holiday gift.
“If sales turn out to be slower than usual during the holiday quarter, that doesn’t mean they are losing money just by being delayed,” says Ben.
So far, Apple has garnered a solid record with virtual product launches into retail environments marked by closure.
After releasing the affordable iPhone SE in April, the company reported surging revenue in late July with growth in every product category, including a boost from cheaper phones that proved popular in volatile economic times.
Bob O’Donnell, head of Technology Research, expects Apple to emphasize its affordable watches along with flagship models equipped with higher priced health sensors.
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