Apple Launches iPhone 11 Family, Hits $1 Trillion in Market Cap
Apple presented the iPhone 11, iPhone 11 Pro, and iPhone 11 Pro Max models on Tuesday. They are not much different from last year phones, except that they have an enhanced camera, a new A13 processor, and improved Face ID.
Better Performance, Lower Prices
Rumors were confirmed – the iPhone 11 looks the way everyone saw it on leaks. It’s an improved version of last year's iPhone XR - the same 6.1-inch Liquid Retina display and the typical Apple design with a cutout on the screen. Green and purple were added to the assortment of colors.
The iPhone 11 runs on the Apple A13 processor – Apple called it the most powerful chip across all smartphones. It has the same 6 cores as in last year's A12, with the only difference that they work at an increased frequency. Besides performance gains, the company ensured that the new iPhone 11 lasts an hour longer than the most resilient iPhone XR.
The camera on the iPhone 11 has changed both visually and technically. Now there are two of them and they look different. The second module in the iPhone 11 is a 12MP wide-angle camera. It allows owners to shoot landscapes, unusual portraits and other photos with a panoramic effect. The company also improved algorithms for constructing images from several frames and added a separate night mode.
The new front camera takes photos with a resolution of 12 megapixels. On the front camera, the so-called Slofies feature allows you to shoot video with a resolution of 4K 60 FPS and slow motion video. iPhone 11 Pro and Pro Max versions come with an unusual three-camera format.
While everyone expected improved specs on the new iPhone, Apple could surprise with its new pricing. The standard iPhone 11 starts $699, down $50 from the iPhone XR price in 2018. The Pro version starts at $999 and the Pro Max phone will cost $1,099 at least. These prices are similar to last year prices of iPhone XS and XS Max, respectively.
John Butler, an analyst at Bloomberg Intelligence, commented:
Price declines on Apple’s current models are something I haven’t seen in the past – very telling about the mature state of the smartphone market.
Analysts at JPMorgan, Bank of America, and Goldman Sachs expressed similar positive opinions on Apple’s new pricing.
Wamsi Mohan, senior equity research analyst at Bank of America Merrill Lynch, concluded:
Apple has shown an ability to be tactical and understand the market dynamics.
Apple Hits $1 Trillion Again
Apple’s market cap reached $1 trillion for the first time this year after the presentation event in Cupertino, California. The stock price rose 1.18% on Tuesday and 3.18% on Wednesday, trading $223.09 at the end of the session.
It’s not the first time when the smartphone giant hits the $1 trillion mark. It did so in August last year, but the stock price declined after disappointing sales in China.
All in all, Apple is not the only $1 trillion tech giant. Microsoft currently has a slightly larger market cap compared to Apple, at $1.04 trillion.
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