Consumer electronics giant Apple on Tuesday introduced its iPhone 15 smartphones, with the high-end Pro models getting the best new features. Apple stock fell on the news.
The iPhone 15 series handsets come in four models: two basic versions and two "Pro" versions. They are largely incremental upgrades to the current iPhone 14 lineup. The new smartphones will be available on Sept. 22 with preorders starting Friday.
The basic models — iPhone 15 and iPhone 15 Plus — have improved cameras and processors. They start at $799 and $899, respectively.
The premium iPhone 15 models — Pro and Pro Max — sport a new titanium frame with thinner borders around the display. They also have a new customizable "action button" that takes the place of the ring-silent toggle switch. The action button can activate the camera, voice memos and other apps.
The Pro models also use the new A17 Pro processor, which is made at 3-nanometer scale. The smaller chip transistors allow for faster performance and better energy efficiency.
IPhone 15 Pro Max Gets Telephoto Lens
The Pro versions of the iPhone 15 also get improved cameras and image processing. The top-of-the-line Pro Max adds a 5-times optical zoom using a tetraprism lens. Last year's model had a 3-times optical zoom camera.
The iPhone 15 Pro and Pro Max start at $999 and $1,199, respectively. The cheapest new Pro Max is $100 more expensive than last year's model, but gets a boost in storage capacity.
All of the iPhone 15 models will use USB-C cables, replacing Apple's proprietary Lightning cable. USB-C permits faster charging and data transfer speeds.
Also, Apple is adding a new satellite communications service for when users are out of range of cellular networks. The new service, Roadside Assistance Via Satellite, allows customers to get help when their cars break down. In the U.S., Apple has teamed with AAA, the nation's largest roadside assistance provider.
The new service joins the Emergency SOS satellite service that Apple introduced a year ago. Both satellite services will be available to iPhone 15 buyers for free for two years.
Apple Stock Falls During Event
On the stock market today, Apple stock declined 1.7% to close at 176.30. When the 82-minute event began, Apple stock was down 1.4% to 176.90.
Most of the news about the iPhone 15 had leaked out ahead of the event.
On Monday, wireless-chip leader Qualcomm announced an agreement to supply Apple with 5G wireless modems for iPhone launches in 2024, 2025 and 2026. The agreement is an extension of its current deal with Apple, which has struggled to produce a modem chip in house.
Apple Watch Series 9 Adds 'Double Tap'
Cupertino, Calif.-based Apple kicked off its fall product launch event by unveiling its latest smartwatches. The Apple Watch Series 9 wearables will be available Sept. 22 and start at $399.
Apple Watch Series 9 includes a new way to control the watch with a gesture called "double tap." Users simply tap their index finger and thumb together twice to control and scroll through apps. Sensors on the watch detect the hand motion.
The new smartwatches also have improved on-device Siri voice response capabilities.
Plus, Apple debuted a new version of its Ultra model smartwatch. The Apple Watch Ultra 2 is designed for sports and outdoor enthusiasts and starts at $799.
Apple began its presentation with a video showing some people who have benefited from the lifesaving features in the Apple Watch and iPhone. Those features include abnormal heart rate detection on the Apple Watch and the satellite-communications rescue feature on the latest iPhones.
Apple stock has an IBD Composite Rating of 78 out of 99, according to IBD Stock Checkup.
Follow Patrick Seitz on X, formerly Twitter, at @IBD_PSeitz for more stories on consumer technology, software and semiconductor stocks.
