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Apple (AAPL) ‘Far Out’ 2022 Product Event Prompts Muted Reaction

Apple Inc. (AAPL) made several important announcements at an event on Sept. 7, 2022, called “Far Out” by the company. These included a new iPhone 14 series, new AirPods Pro, and three new versions of the Apple Watch.

Apple’s stock was trading at around $156 as the event ended on the afternoon of Sept. 7, 2022, up by roughly $1.25, or about 0.8%, on the day, suggesting that there were few surprises in the announcements. Year to date, Apple shares were down by about 14%.

Key Takeaways

  • Apple (AAPL) announced, on Sept. 7, 2022, a new iPhone 14 series, a new version of AirPods Pro, and three new versions of the Apple Watch.
  • All come with various new features and promise enhanced performance.
  • Prices for iPhone 14 models are unchanged from those for the equivalent iPhone 13 models.
  • The reaction of the markets was muted, suggesting that there were few, if any, surprises in the announcements.

Apple’s ‘Far Out’ Announcements

Below are summaries of the key announcements made by Apple at its “Far Out” event on Sept. 7, 2022.

Apple Watch Series 8 adds a temperature sensor, which can connect to ovulation cycle tracking for women. It also has a crash detection feature that can detect if you are in a severe car crash, automatically connect to emergency services, and notify emergency contacts. Additionally, the new version of the smartwatch has international roaming and a low-power mode that effectively doubles battery life to 36 hours. Prices start at $399 for the GPS version and $499 for the cellular version. It comes with three free months of Apple Fitness Plus, can be ordered today, and will be in stores on Sept. 16.

The new Apple Watch SE has workout and activity tracking, heart rate notifications, fall detection, and emergency SOS. It has the same motion sensor for crash detection support. Its display is 30% larger than Apple Watch 3, and it is 20% faster than the original SE. The cost is $249 for GPS and $299 for cellular. It be ordered today and will be in stores on Sept. 16.

Apple Watch Ultra has a battery life of 36 hours that can be extended to 60 hours with a low-power setting that will be available in the fall. It has a more durable titanium case and a big, bright display that is easier to read in sunlight. An action button is customizable for quick control over a range of functions. The digital crown and side button are remodeled for use with gloves, and it has a second speaker for louder sound. The Apple Watch Ultra has a night mode for use in the dark, improved compass and GPS readings, increased water resistance, plus increased ability to function in extreme temperatures, among other features. The cost is $799, and it can be ordered today, with availability in stores on Sept. 23.

AirPods Pro (2nd generation) have a new H2 chip and a new low-distortion audio driver. The camera on the user’s iPhone can be used to create personalized spatial audio calibrated to the size of the user’s head. They offer double the amount of noise cancellation over the original AirPods Pro. Different ear tip sizes are designed to allow more people to wear the AirPods Pro 2 comfortably. They also are designed to reduce sound of harsh and high-decibel environmental noises. Volume can be adjusted with a swipe, and listening time is expanded by 33% to six hours. With a charging case, listening time can extend to 30 hours. The new generation of AirPods Pro cost $249, pre-orders start on Sept. 9, and they will be in stores on Sept. 23.

iPhone 14 and iPhone 14 Plus are built with the A15 Bionic chip, like the iPhone 13. But the five-core GPU is 18% faster. The iPhone 14 Plus is a 6.7-inch version of the 6.1-inch iPhone 14. They have a 12MP main camera with a faster aperture, larger sensor, and bigger pixels. The front camera is improved with autofocus and a wider aperture to let in more light, promising faster focus, even in low light. For video, they promise better stabilization. They will offer the crash detection feature that is on the Apple Watch 8, but also with an emergency SOS via satellite feature that will activate when cellular connections are lost. The iPhone 14 is priced at $799, the same as the iPhone 13. The iPhone 14 Plus will cost $899. Preordering begins for both on Sept. 9, with the iPhone 14 coming to stores on Sept. 16 and the iPhone 14 Plus on Oct. 7. 

iPhone 14 Pro and iPhone 14 Pro Max come in display sizes of 6.1 inches and 6.7 inches, respectively. Their peak outdoor brightness is 2,000 nits, and they have an always-on display feature. They also can dim the display, including wallpaper photos, to keep it visible without draining the battery. The A16 Bionic chip in these models is touted by Apple as the fastest chip on the market. The CPU is faster while using 20% less power than the A15, while the GPU has 50% more memory bandwidth. The cameras are supposed to deliver significant improvements in low-light settings. The iPhone 14 Pro prices are unchanged from those for the iPhone 13, at $999 for the Pro and $1,099 for the Pro Max. Preorders begin Sept. 9, and the phones hit stores on Sept. 16.

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