Apple Stocks Drop Ahead of First Product Event of 2022 By

© Reuters

By Sam Boughedda — Apple Inc (NASDAQ:) shares are down more than 1.6% on Monday ahead of its first product event of the year, dubbed “Peek Performance.”

At the event, Apple is expected to announce various product updates including Macbook and iMac upgrades, while an updated iPhone SE with 5G is highly anticipated.

The iPhone SE is Apple’s entry-level iPhone.

Wedbush analyst Daniel Ives — who has an outperform rating and $200 price target on Apple — told investors in a note on Monday that he expects the company to launch its third iPhone SE. alongside a revamped iPad Air and a new Mac version.

However, Ives said the highlight should be the SE which will likely start at $399 with a new A15 Bionic chip and 5G. Ives added that the SE will be the headline event to further catalyze upgrades during a massive product cycle led by the iPhone 13.

Meanwhile, TF International Securities analyst Ming-Chi Kuo tweeted to say he expects Apple to unveil a more powerful Mac Mini and a more affordable external display. He also predicts that the tech powerhouse will launch its next GaN charger in 2022.

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