What We Know About Apple's 'There's More In The Making' Event

Just weeks after holding an event to launch a new lineup of iPhones, Apple Inc. AAPL announced a second product event launch set for Oct. 30.

What Happened

Apple's event will likely showcase new iPad Pro tablets and a potential update to the Mac computer line, Loup Ventures' Gene Munster and Will Thompson wrote in a post. The event -- dubbed "there's more in the making" -- will likely be "less impactful " compared to the iPhone launch but nevertheless incrementally contribute to the overall business.

If Apple's event introduces new computers and tablets, the company will enter the new year with refreshed products that represent around 50 percent of revenue. This should be considered a near-term catalyst for unit growth and confidence in management to hit the Street's financial targets has increased.

Why It's Important

Key to Apple's success over the longer-term isn't new features in products, but the ability of products to retain if not boost the total user base and simultaneously increasing revenue per user from services, Munster and Thompson said. In other words, this is part of a shift towards "Apple as a Service."

What's Next

Several question marks remain ahead of the product launch with potential surprise announcements including the delayed AirPower charger, according to The Verge. The event could tease a new Mac Pro that's expected to launch next year.

Apple's stock closed Thursday at $216.02 per share. The stock is up 25 percent year-to-date.

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