It’s expected that Apple will unveil a new line of iPhones and watches.
Conway Gittens: I’m Conway Gittens reporting from the New York Stock Exchange. Here’s what we’re watching on TheStreet today.
The Dow set a fresh record closing high. Investors are keeping an eye on rising oil prices after a weekend flare up in Middle East tensions. A prolonged spike in energy costs would throw a wrench into the Federal Reserve’s plan to lower interest rates.
Investors on Tuesday will digest fresh home price data and the latest read on consumer confidence.
Turning to other news: Apple lovers rejoice – the tech giant set September 9th as the date for its next series of gadget reveals and updates. Invitations simply said “It’s Glowtime.”
There are high expectations to see how Artificial Intelligence – or Apple Intelligence as the company calls it – is integrated into the Apple ecosystem. The company has lagged behind many of its peers by not fully unleashing the power of AI. Analysts, however, expect that to change with what is being called the biggest-ever software upgrade for the iPhone.
So what else is likely to be announced? Besides an AI-inspired refresh of the iPhone 16 line-up, AI updates for the Apple Watch and AirPods are expected. There are also rumors of some funky new colors given the colorful glow effect on the invitation. And, that’s just the hardware. AI upgrades for all of Apple’s operating systems are likely to be in store as well. In addition, there are high hopes that Siri will get the full AI treatment.
All of this comes at a crucial time for Apple. Global iPhone sales were down last quarter due largely to weakness in China. That one device is responsible for half of Apple’s total revenue.
That’ll do it for your Daily Briefing. From the New York Stock Exchange, I’m Conway Gittens with TheStreet.
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