Apple just unveiled a new purple color for the iPhone 12 that will be available for pre-order on Friday

Apple Event April 2021
iPhone purple

  • Apple unveiled a new purple color for the iPhone 12.
  • The announcement was made at Apple’s Spring Loaded event on April 20.
  • When the iPhone 12 was announced last year it came in black, blue, green, red, and white.
  • See more stories on Insider’s business page.

Apple is now offering the iPhone 12 in a light purple color, CEO Tim Cook announced during the company’s Spring Loaded event.

The new color, “just in time for spring” according to Cook, is now the sixth color available to choose from with the iPhone 12 line. When Apple unveiled the iPhone 12 and iPhone 12 Mini last fall, the new models came in black, blue, green, red, and white.

The purple iPhone 12 will be available for preorder on Friday and fully available on April 30.

“This gorgeous new color joins the iPhone 12 and iPhone 12 mini family, which is available in five other stunning finishes, and features an advanced dual-camera system, Super Retina XDR display, improved durability, A14 Bionic – the fastest chip ever in a smartphone – great battery life, and the best 5G experience on any smartphone,” Greg Joswiak, Apple’s senior vice president of Worldwide Marketing, said in the press release.

Apple iPhone 12 lineup has been called one of the company’s most important launches in years, according to some analysts. The smartphone models come with 5G compatibility, new sizes, and come with lower price tags. The standard iPhone starts at $799 and the iPhone 12 Mini starts at $699.

TheiPhone 12 comes in four different models: the iPhone 12, iPhone 12 Mini, iPhone 12 Pro, and iPhone 12 Pro Max.

Read more: Apple’s reportedly delaying its next Macs and iPads thanks to a global parts shortage, and it’s a bad sign for the whole tech industry

Apple’s Tuesday event, dubbed Spring Loaded, is expected to include an unveiling of a new iPad Pro as well as potential announcements of updates to AirTags, Apple TV, iMac, and the Apple Pencil. Apple released the current iPad Pro in March 2020. The event is currently available to watch on Apple’s website.

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Apple just increased the maximum amount you can get for trading in your old iPhone

iphone cases
Apple

  • Apple updated its trade-in prices for several old models of the iPhone, including the iPhone 11.
  • For an iPhone 11 Pro Max in good condition, a consumer can get $515, up from $500, MacRumors said.
  • Apple released four new versions of its iPhone 12 last October.
  • See more stories on Insider’s business page.

Apple has upped the ante for consumers who trade in their old iPhones for a new one, MacRumors first reported.

The maximum trade-in value for a used iPhone 11 Pro Max in good condition is now $515, according to Apple, an increase of $15, MacRumors said. Meanwhile the iPhone 11 Pro increased just $5 to $465, and the iPhone 11 rose $20 to $380, MacRumors said.

The maximum trade-in value for the iPhone 6s, a more than 5-year-old model, rose $5 to $65.

To trade-in a phone, consumers must answer questions about the model, condition, and storage on the old phone before getting an estimate and receiving an Apple gift card or cash. Apple last updated its trade-in prices in December, MacRumors said.

Apple did not immediately reply for Insider’s request for comment. The full list of maximum trade-in values for old iPhones can be found on the company’s website.

Read more: Apple just launched a new camera feature for the iPhone 12 Pro that could change the way we think about smartphone photography

Apple released four models of its new iPhone 12 last October: the iPhone 12, iPhone 12 Mini, iPhone 12 Pro, and iPhone 12 Pro Max. They range in price from $699 to $1,099, and each supports 5G.

Insider’s Lisa Eadicicco called the iPhone 12 and 12 Pro a “step up from their predecessors” because of the refreshed design and upgraded camera that can see in the dark as well as shoot RAW images.

With the release of the new phones, Apple discontinued four others, including the iPhone 11 Pro and iPhone 11 Pro Max, which were released in 2019. It also sent the iPhone 8 and iPhone 8 Plus, which were released alongside the iPhone X in 2017, to the graveyard.

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Socket Mobile spikes 980% after announcing barcode scanner for all iPhone 12s

iPhone 12
  • Socket Mobile stock jumped as much as 980% after it uveiled its new DuraSled barcode scanner for the iPhone 12.  
  • DuraSled is the company’s first enterprise-grade barcode scanner for iPhone 12s.  
  • Socket Mobile will sell three models of the DuraSled scanner. 
  • Visit the Business section of Insider for more stories.

Socket Mobile stock was up by nearly 1,000% on Tuesday, propelled by the company’s launch of its DuraSled barcode scanner for Apple’s iPhone 12.

The company said DuraSled is its first enterprise-grade barcode scanner for the iPhone 12, iPhone 12 Pro, iPhone 12 Pro Max and iPhone 12 Mini. The DuraSled will give users of iPhone 12 models access to “professional-grade” scans. Such work includes delivery services, stock counting and ticketing.

Socket Mobile shares leapt to an intraday high of $35, a 980% bounce from their closing price of $3.24 on Friday, the last full day of trading before Monday’s Presidents’ Day holiday.

Socket said the DuraSled scanner will allow employers to support workers with iPhone 12 phones along with supporting older iPhone series ranging from the iPhone 6 to iPhone 11. The DuraSled itself comes in three models. 

Shares of Socket were on course Tuesday to rise by about 1,480% over the past 12 months.

 

 

 

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Apple said the Pro models of the iPhone 12 sold the best last quarter as a record number of people upgraded their devices

iPhone 12 Apple iPhone 12 Pro
A customer holds the iPhone 12, left, and the iPhone 12 Pro, right.

  • Apple said the iPhone 12 Pro and iPhone 12 Pro Max sold the best during its most recent quarter. 
  • Apple reported $65.6 billion in iPhone revenue in Q1, surpassing analyst estimates of $60.3 billion.
  • Apple also saw a record number of people upgrading their iPhones last quarter, CEO Tim Cook said.
  • Visit Business Insider’s homepage for more stories.

Apple said the high-end models of its latest iPhones sold the best during its most recent quarter. 

Apple reported strong earnings during its 2021 fiscal first quarter, beating Wall Street expectations and breaking its previous revenue record. The company reported $65.6 billion in iPhone revenue, surpassing analyst estimates of $60.33 billion.  

During a conference call following the company’s earnings, CEO Tim Cook said Apple’s new iPhone 12 Pro and iPhone 12 Pro Max were its best-selling iPhones last quarter.

Read more: Apple TV+ may lag far behind its competition, but Apple is still winning at its own game

Apple unveiled its new devices in October, one month later than it typically takes the wraps off its new phones. The Pro models start at $1,000, but the new lineup also includes the $800 iPhone 12 and $700 iPhone 12 Mini, less-expensive versions of its luxury phones.  

Cook said Apple also saw the largest number of people upgrading their iPhones than it’s ever seen in any previous quarters. 

Luca Maestri, Apple’s chief financial officer, noted on the call that Apple did face, and continues to face, supply constraints when it comes to producing the Pro models, which it hopes to solve during the March quarter.

The iPhone 12 Pro and iPhone 12 Pro Max contain more advanced cameras, OLED displays, and a a Lidar sensor, which is able to build a depth map of a scene to aid with mapping, augmented reality, and photos and videos.

All of the devices in Apple’s new lineup at 5G-enabled, which has been particularly beneficial in markets like China and South Korea, Cook said, which are further along in enabling 5G. Apple also saw a record number of upgraders to the iPhone 12 in China last quarter, he said. 

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Apple will climb 29% from current levels as the iPhone 12 5G kicks off the strongest product cycle in 6 years, says Wedbush

Tim Cook
  • Shares of Apple could gain nearly 29% over the next 12 months as demand soars for the new iPhone 12, according to a team of Wedbush analysts led by Dan Ives. 
  • Wedbush upgraded its Apple 12-month price target to $160 from $150 on Wednesday. The analysts are maintaining their “outperform” rating for the stock. 
  • “For the key China region, demand remains very healthy with strong pent up demand for upgrades heading into holiday season for this latest iPhone 12 5G, which we would characterize as the strongest product cycle for Cook & Co. thus far since iPhone 6 in 2014,” said Wedbush.
  • Visit the Business Insider homepage for more stories.

Shares of Apple could gain nearly 29% over the next 12 months as demand soars for the new iPhone 12.

That’s according to a team of Wedbush Securities analysts led by Dan Ives, who just updated their Apple 12-month price target to $160 from $150, while maintaining their “outperform” rating for the stock. Shares of the tech giant currently trade around $124.

Wedbush analysts say that demand for the iPhone 12 5G in the US and China is stronger than initially expected. 

“With more order activity kicking in over the last few weeks for iPhone 12 our initial reads are very bullish and give us incremental confidence in our supercycle thesis on iPhone 12,” said the analysts.

After initially anticipating 65 million iPhones to fill the supply chain during the initial launch period, Wedbush now forecasts that number to be closer to 80 million. According to their analysis, the only iPhone with a similar growth trajectory was the iPhone 6 in 2014.

“For the key China region, demand remains very healthy with strong pent up demand for upgrades heading into holiday season for this latest iPhone 12 5G, which we would characterize as the strongest product cycle for Cook & Co. thus far since iPhone 6 in 2014,” said Wedbush. 

Read more:We spoke with Wall Street’s 9 best-performing fund managers of 2020 to learn how they crushed the chaotic market – and compile the biggest bets they’re making for 2021

Wedbush also anticipates that 350 million of the 950 million iPhones worldwide are currently in “in the window of an upgrade opportunity,” which will lead to an “unprecedented upgrade cycle for Apple” as the holidays approach. Additionally, Apple could sell more than 240 million iPhones in 2021, said the analysts. The Street forecast is around 215 million units.

Wedbush added that China is a “key ingredient” for Apple. Roughly 20% of the iPhone upgrades will come from that region over the coming year, they said.

“In a nutshell, while services growth remains the key to the Apple re-rating story over the past six months, the hearts and lungs of the Apple growth story are built around iPhone installed base upgrades,” Wedbush said. ” With 5G now in the cards and roughly 40% of its ‘golden jewel’  iPhone installed base not upgrading their phones in the last 3.5 years, Cook & Co. have the stage set for a supercycle 5G product release.” 

 

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