The X factor: Did Apple wow enough?
Apple’s new $1,000 iPhone met Wall Street’s high Xpectations, but with one big caveat: It’s not available soon enough.
On Tuesday, Apple unveiled new smartwatches, an Apple TV and the iPhone 8 and 8 Plus at a press event. But the showstopper was a premium device called iPhone X, with a starting price of $999.
While the 8 and 8 Plus resemble existing iPhone models, with a few new features thrown in, the X is a more radical overhaul. It has an all-glass design, an edge-to-edge display, and the option to unlock with facial recognition.
Apple is touting the iPhone X as nothing short of “the future.” The stakes could not be higher for Apple to make sure X lives up to the hype.
Apple (AAPL, Tech30) hasn’t refreshed the look and feel of its iPhone line since 2014, cutting into demand for what has long been its main moneymaker. Apple’s annual sales declined in 2016 for the first time since 2001. Sales fell again in the beginning of this year following the rumors about the big tenth anniversary iPhone launch.
After Apple’s press event, a number of Apple analysts said they believe X may mark the sweet spot.