Technology

AAPL unveils the iPhone 15 (two Pro versions), Apple Watch Series 9, and updated AirPods Pro. All phones have AAPL ditching the Lightning port in favor of USB-C (we see consumers embracing) and getting modest internal upgrades, camera enhancements, and new colors. The Pros have a new action button replacing the mute switch, a lighter titanium design, and faster A17 based on 3nm. AAPL boosts the premium 15 Pro Max price by $100 to $1,199, justifying it through more pronounced camera upgrades (5x optical zoom) and double the memory. The move could support modest upside (2%-3%) to our iPhone 15 revenue assumptions but we conservatively keep estimates unchanged. Sustaining the Pro price at $999 (we thought AAPL would also raise by $100) while still adding the best features to its two premium phones likely incites more consumers to pay up, supporting ASPs. We think easy comps along with healthy iPhone