Apple Event 2024 Highlights: iPhone 16 Pro Unveiled, Key Features & AAPL Price Analysis

Apple has just introduced its latest flagship models, the iPhone 16 Pro and iPhone 16 Pro Max, building on the earlier release of the iPhone 16 and iPhone 16 Plus.

These new Pro models represent the pinnacle of Apple’s smartphone technology, featuring larger displays, improved cameras, and a cutting-edge chip designed to handle even the most demanding tasks, including generative AI.

iPhone 16 Pro
– Larger 6.3" and 6.9" displays with thinner bezels
– Larger batteries
– New desert titanium color
– New faster A18 Pro chip
– New 48mp ultrawide camera
– 4K 120fps slow motion video recording pic.twitter.com/4gm0QhEhgK

— Marques Brownlee (@MKBHD) September 9, 2024

Here’s a breakdown of what makes these devices stand out.

Larger Displays and Advanced Design

Apple has taken its iPhone 16 Pro series further with display upgrades. The iPhone 16 Pro now boasts a 6.3-inch display, while the Pro Max sports a 6.9-inch display—larger than their predecessors.

According to Apple, these devices feature the “thinnest borders on any Apple product,” enhancing the user’s viewing experience. The company proudly stated that these are their “best iPhone displays ever.”

Bigger displays by shrinking bezels. Nice.

Four "colors" lol. pic.twitter.com/IPVMWWJk4O

— M. Brandon Lee | THIS IS TECH TODAY (@thisistechtoday) September 9, 2024

Crafted from titanium, these phones are lightweight and highly durable. Apple claims that its titanium is nearly half the weight of stainless steel and more scratch-resistant than other forms of titanium used in the market.

Available in white, black, natural, and desert finishes, the design is sleek and elegant.

The iPhone 16 Pro Max also comes with a claim of “best iPhone battery life ever,” though Apple has yet to provide specific battery details. This should appeal to users looking for longevity without sacrificing performance.

A18 Pro Chip and Camera Upgrades

The A18 Pro chip, which has second-generation 3-nanometer transistors and a new 16-core neural engine, powers both Pro models under the hood.

This upgrade allows the iPhone 16 Pro series to handle tasks like generative artificial intelligence more efficiently, offering a 17% increase in total system memory bandwidth.

It’s faster and more efficient than its predecessor, making multitasking and performance-heavy applications run seamlessly.

The new Apple A18 Pro

• 2nd gen 3nm process
• 16 core Neural Engine
• 17% higher memory bandwidth
• 6 core GPU – 20% faster than A17 Pro
• 15% faster CPU than A17 Pro
• Same performance using 20% less power
• 2x faster Ray Tracing over A17 Pro

Fastest chip in a phone pic.twitter.com/1FDer2EXgR

— Anthony (@TheGalox_) September 9, 2024

The camera system has also seen major improvements. A new 48-megapixel fusion camera and a 48-megapixel ultrawide camera enable stunning photos with enhanced details, even in wide-angle shots.

The 5x telephoto camera offers improved zoom, while 4K video capture at 120 frames per second marks the highest resolution and frame rate ever seen in an iPhone camera.

A first in the industry, Apple’s Audio Mix feature uses machine learning to separate background elements from the user’s speech.

Whether recording vocal performances or acoustic audio, the iPhone 16 Pro series offers studio-quality sound with its four microphones and spatial audio capture.

Pricing and Availability

The iPhone 16 Pro will start at $999, while the Pro Max begins at $1,199. Pre-orders will be available starting Friday, with official in-store sales kicking off on September 20.

No local availability or pricing yet, but the iPhone 16 starts at $799 and 16 Plus begins at $899. #AppleEvent pic.twitter.com/ul5QcsWcoQ

— Hypertext (@htxtafrica) September 9, 2024

For those interested in cutting-edge technology, the Pro models present a blend of innovative features and sleek designs that make them a worthy upgrade.

Apple Stock (AAPL) Technical Analysis

Apple Inc. (AAPL) has seen some interesting technical movements recently, with the stock fluctuating around a critical support level.

As of now, Apple has completed a 30-year 0.2% Fibonacci retracement at $218.78, a key technical zone that could influence the stock’s direction shortly.

The formation of consecutive Doji candles at this level suggests market indecision, hinting at the possibility of a double-bottom pattern. Should this support hold, Apple could see a bullish bounce from this level.

However, bulls face resistance from the 50-day Exponential Moving Average (EMA) at $222.94, which has acted as a barrier in recent trading sessions.

Key Price Levels:

• Immediate Resistance: $222.94 (50-day EMA)
• Next Resistance: $224.14
• Next Resistance: $228.86
• Immediate Support: $218.78 (Fibonacci retracement level)
• Next Support: $214.55
• Next Support: $210.12

While the current price action shows a narrow range, a bullish breakout above $224 could signal a shift in momentum, paving the way for further gains.

On the other hand, a failure to hold $218 as support could result in a bearish reversal.

Technical Indicators:

• Relative Strength Index (RSI): Currently at 41.90, indicating a bearish zone. The RSI suggests that Apple remains under selling pressure, with the potential for further downside unless a breakout occurs.
• 50-day EMA: $222.94 (Immediate resistance level)

Market Outlook and Conclusion

Apple’s new iPhone 16 Pro series arrives at a pivotal time for the company, with hardware upgrades and advanced software capabilities designed to meet the demands of both everyday users and tech enthusiasts.

The A18 Pro chip and camera enhancements offer significant improvements, while the inclusion of cutting-edge features like 4K video at 120 FPS and studio-quality audio add to the device’s appeal.

From a technical perspective, Apple’s stock faces both opportunities and challenges. The $218.78 Fibonacci retracement level serves as a critical support line, while the resistance from the 50-day EMA could cap further gains.

Traders should monitor key levels closely as the stock navigates this narrow trading range.

Key Takeaways:

• New iPhone 16 Pro models feature larger displays, titanium build, and improved battery life.
• The devices’ A18 Pro chip powers them, making them ideal for AI workloads and high-performance applications.
• Apple stock is testing key technical levels, with $218.78 serving as critical support and $222.94 acting as immediate resistance.

In summary, Apple’s latest product releases and technical stock levels suggest the company is well-positioned to capture market attention.

Investors and traders alike should keep a close watch on upcoming price action and the success of the new iPhone 16 Pro series.