Apple sets Sept. 9 date for next iPhone launch event

Apple announced a product launch event on September 9, where it is expected to unveil new iPhones and possibly its first foldable phone. Analysts anticipate higher selling prices and improved margins from these premium devices. The event marks the first major launch under new CEO John Ternus, who takes over on September 1. Tim Cook will transition to executive chairman.

Apple unveiled new Mac mini models with M6 and M5 Pro chips, priced at $899 and $1,699, and a Mac Studio with M5 Max and M5 Ultra chips, emphasizing AI performance. Available September 22, these launches highlight Apple's focus on AI and agentic computing, which analysts believe is crucial for AAPL stock growth.

Apple introduced the M5 Ultra and M6 chips, with the M5 Ultra being its most powerful yet. The M6 will be in a new Mac mini, priced at $899, while the M5 Ultra will be in a revamped Mac Studio, starting at $2,499. Anthropic claims a $30 trillion total addressable market ahead of a potential IPO. Instagram's CEO testified that the 'Take a Break' feature was slow-rolled due to low teen adoption.

Berkshire Hathaway, now led by Greg Abel, has 30% of its $358 billion portfolio in Apple (19.8%) and Alphabet (10.1%). Abel has been actively reallocating the portfolio, focusing on tech and AI stocks. Apple is Berkshire's largest holding, valued at $71 billion, while Alphabet is its fourth-largest at $36 billion.

Apple launched a faster Mac mini and Mac Studio, starting at $899 and $2,499, respectively, targeting AI and professional users. The devices feature new M6 and M5 chips, offering improved performance. Apple cited rising memory chip costs as a factor in price increases. This is likely the last major launch under CEO Tim Cook.

Apple has begun rolling out ads in Apple Maps for users in the U.S. and Canada, with sponsored listings appearing in search results and suggested places. Businesses can create ads through Apple Business, selecting formats and budgets. Apple emphasizes privacy, using contextual info but not personal data for ad targeting. The rollout started in recent days and will expand over the coming weeks, according to 9to5Mac.