Apple is likely to announce the new iPhone 17, among other products at an event it is hosting on 9 September.
While Apple rarely shares details about future products before announcing them, the company has been announcing new iPhones in September since 2012 and sent an invitation to the press with the tagline “Awe dropping” that will be streamed on Apple's website.
For the upcoming event, there is much anticipation around the new iPhone, which is Apple’s biggest revenue driver despite consumers not always opting for the latest model.
Wall Street will be looking for announcements that solidify Apple as still being an innovator, especially in the age of AI. Stakes are especially high after Apple delayed a major upgrade to Siri that would bring it closer to competing with the likes of ChatGPT and Gemini.
According to Bloomberg, Apple is trying to impress customers with a new super slim iPhone, which has been dubbed the MacBook Air of iPhone and could reinvigorate consumer interest in the smartphone when most only upgrade out of necessity.
This comes as Apple's offering of different-sized phones has failed to entice shoppers, with the iPhone Mini being scrapped two generations ago and the larger iPhone 16 Plus only accounting for 5% to 10% of shipments in July 2024.
The event is occurring as the company grapples with how to deal with President Donald Trump’s tariffs, as CEO Tim Cook said he expects Apple to incur US$1.1 billion in tariff-related costs during the September quarter.
To reduce its reliance on China, Apple also moved most of its U.S.-bound iPhones to India, and despite some tariffs in India rising to 50%, smartphones are one of the exemptions.
Trump also hinted that the company wouldn’t be subject to the upcoming 100% tariffs on semiconductors after Apple said it would invest US$600 billion in expanding U.S. operations earlier this month.
