Apple (NASDAQ:AAPL) shares have been on the upswing in the weeks leading up to the company’s annual autumn product announcement event. In September, we saw the consumer electronics giant reveal the iPhone 14 series handsets and other new products.
Apple (NASDAQ:AAPL) is preparing for an iPhone 14 debut that will be at least as significant as the introduction of the iPhone 13 last year. According to a Bloomberg story from Thursday, it has instructed manufacturers to produce 90 million of its newest smartphones, which is on pace with the initial demand at last year’s debut. Bloomberg said that amid the economic downturn, the multinational technology company is placing its hopes on its wealthy clientele to keep demand for iPhones high.
Bloomberg reports that AAPL, headquartered in Cupertino, California, still plans to manufacture roughly 220 million iPhones in 2022, which is flat from 2019.
Meanwhile, experts warn that sales of affordable and mid-range Android devices are falling.
As the release of the iPhone 14 draws near, Apple’s stock price rises
Apple shares jumped 1.8% in the afternoon trade Wednesday, reaching $171.47. IBD MarketSmith data show that it has been consolidating for the previous 32 weeks and that the best time to purchase is now for $183.04.
The relative strength line for AAPL (NASDAQ:AAPL) stock has been rising to new heights as the stock has outperformed the S&P 500. On the weekly and daily MarketSmith charts, you can see the movement represented by a blue dot.
The company (NASDAQ:AAPL) is widely anticipated to unveil four new iPhone models this year, which will most likely be incremental updates to the company’s existing flagship models. The next generation of its iPhones, the 16th, will be the company’s third 5G-enabled device.
Is Apple Safe From a Recession?
On Friday’s CNBC broadcast, Toni Sacconaghi of Bernstein suggested that the iPhone 14 will reveal if Apple is recession-proof. After the company’s June quarter report exceeded expectations, several analysts made this remark.
“Many investors assume that Apple is probably resistant to economic hardship coming ahead, given the brand strength,” he added. More proof of the multinational technology company’s alleged resilience is needed, Sacconaghi added.
The issue, he said, was how customers would react to the release of the iPhone 14. “How often do they update, and is it at the same pace as in recent times? Alternately, do they improve at a quicker or slower rate?”
Loop Capital analyst John Donovan wrote in a letter to investors on Wednesday that he believes Apple will conduct its autumn product announcement event on September 13. He added a week early, on September 6, “there is accumulating evidence” that it would conduct the event. Loop recommends investing in its shares.
There’s a good chance that AAPL will unveil the Apple Watch Series 8 with the iPhone 14 on September 12.
Featured Image: Megapixl © Egomezta
Author Shariq Khan 
