Apple (NYSE:AAPL) is said to be considering major iPhone updates, according to the Wall St Journal.
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AAPL started 2024 with a five-month dip to around May and then began a sharp rally to $236. Price corrected once more but has now soared to an all-time high above $250.
Apple is said to be preparing to make major changes to its iPhone lineup and maybe some of its other products. Beginning next year, the company aims to release a thinner iPhone, with a design slimmer than the current 8-millimeter models. The updated device is also expected to come in at a lower price than previous iPhone Pro models and will include a simplified camera. Reports said the company wants to boost demand for its product offerings and drive future growth, while cutting costs.
Apple is also working on two foldable devices, with a 19-inch laptop-sized model and a smaller model that would act as a foldable iPhone. The company was said to have seen delays with its foldable technology but may be releasing it in 2026.
Apple is heavily reliant on its iPhone segment for more than 50% of its overall sales. A slowdown in those sales led to a slowdown in 2024 and some volatility in the share price.
The company also had issues with its Vision Pro product, which is a high-end virtual reality headset. That was a move to new products but the headset’s high price of more than $3,000 led to production cuts on weak demand.
There are rumours of a more affordable version of the Vision Pro that could be powered by an iPhone. That could give the device more commercial appeal.
The valuation of Apple is currently around 20% higher than its 5-year average and any sales slowdown or delays could hurt the recent rise to all-time highs.
