Apple (AAPL) is widely expected to unveil the newest version of its low-cost iPhone SE at an event scheduled for Feb. 19.
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The exact item to be revealed at the technology giant’s product launch is not known. Apple CEO Tim Cook teased the upcoming event in cryptic social media post on X, writing “Get ready to meet the newest member of the family.” However, many analyst say they expect Apple to unveil its newest iPhone SE model, which is a less expensive, simpler version of the company’s smartphone.
Given its lower price point, the iPhone SE has become an important product for both consumers and Apple. Unlike more expensive iPhone models, the SE still has a button on the front and a single camera lens on the back. The SE also uses an A15 Bionic microchip that is less powerful than the A19 chip found in the high-end iPhone 16, which is the newest iteration of the smartphone.
Updates and Enhancements
The iPhone SE was first introduced in 2016 and updated in 2020 and 2022. The new version of the iPhone SE that’s likely to be launched on Feb. 19 is expected to include the removal of the home button and the introduction of Apple’s artificial intelligence (AI) software, known as “Apple Intelligence,” along with a more powerful processor.
There are also unconfirmed reports that the new iPhone SE could be Apple’s first device with an in-house cellular modem chip, replacing components that were previously made by Qualcomm (QCOM). Apple has been musing about substituting the current 5G chips it uses from Qualcomm with its own inhouse designed chips.
Analysts are speculating that the new base model iPhone SE will cost $499. That is less than half the starting price of the iPhone 16 base model. AAPL stock has declined 2.57% this year.
Is AAPL Stock a Buy?
The stock of Apple has a consensus Moderate Buy rating among 33 Wall Street analysts. That rating is based on 18 Buy, 11 Hold, and four Sell recommendations assigned in the last three months. The average AAPL price target of $250.95 implies 2.97% upside from current levels.
