Apple (AAPL) Stocks are popping today – Here’s why?

Apple ( AAPL 2.06% ) stock hit the mark Wednesday afternoon, scoring a 2.06% gain after the tech giant announced it will hold a “Peak Performance” product launch event on March 8 less than a week away.

AAPL Stocks

Investors seem so excited about the news, that they’re looking right past Apple’s other announcement, yesterday, that it will halt product sales in Russia, and remove Russian propaganda/news sites RT News and Sputnik from its outside-Russia Apple Stores, sacrificing both hardware and services revenue in the process.

As CNBC reports, Apple just sent out a batch of invitations asking media to tune into its Peek Performance launch event online, the company’s first such event since October 2021. While the company apparently didn’t confirm any details, CNBC says that Apple fans are anticipating the company will announce “a new low-cost iPhone with 5G support and a fingerprint reader” and perhaps a new “midrange iPad” as well.

There’s also the potential that Apple might release an anticipated new version of iPhone software, iOS 15.4, which could enable the device to recognize a face wearing a Covid mask (for facial recognition) and transform every iPhone into a payment device able to accept payment via contactless (tap-and-go) credit cards.

Written by Maryam Nawaz

MPhil International Relations (Specialization in International Politics and Economy)

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