Apple Inc. unveiled its most important new iPhone for years to take on growing competition from Samsung Electronics Co., Google and a host of Chinese smartphone makers.
Chief Executive Officer Tim Cook showed off the iPhone X with an edge-to-edge screen during an event at the company’s new $5 billion headquarters in Cupertino, California, on Tuesday. Cook pronounced the name "ten," but it’s written as "X." The device, coming a decade after the original model, is Apple’s first major redesign since 2014 and represents a significant upgrade to the iPhone 7 line.
At almost 2 hours the Apple event was a serious time commitment but two things stood out to me apart of course from the price. Animated emojis are something that a lot of people will appreciate but the augmented reality features will also speak directly to the younger generation.
Nevertheless, the fact is that Apple has rallied impressively over the last couple of months and investors will likely want to see how hot a seller the X is before committing to paying progressively higher prices. Some consolidation appears more likely than not.
Taiwan Semiconductor, which is a major producer for the X’s chips, remains in a consistent medium-term uptrend.