Apple Set to Launch iPhone 6 Today: What More to Expect?

Apple Inc.'s AAPL high-profile event is scheduled to begin shortly at the Flint Center for the Performing Arts, near its Cupertino headquarters. It is highly anticipated that the company will launch iPhone 6 at the event. Investors and Apple enthusiasts will also eagerly watch for a glimpse or an update on the rumored iWatch.

Apple is expected to follow other handset makers like Samsung and Motorola by launching a bigger iPhone. It is expected that the company will ship two iPhone models — one with a 4.7-inch screen and the other with a 5.5-inch display.  

Reportedly, Apple will use Sapphire glass for the cover of its new iPhone. Currently, Apple uses Sapphire for the camera lenses and the protective disk that serves as the Touch ID home button for iPhone 5S.

Sapphire is a potential substitute for Gorilla Glass produced by Corning GLW, which is currently used for iPhone screens. However, since Sapphire is more costly (approximately 7 times) than Gorilla Glass, we believe that Apple will raise the iPhone price.

Reportedly, Apple will collaborate with major payment networks, banks and retailers including the likes of American Express, Visa V and Mastercard MA to offer a mobile payment system in the new iPhone.

Breaking its taboo over the usage of near-field communication (NFC) technology, Apple is expected to unveil an NFC-based payment system for the new iPhone. Reportedly, Dutch chip-maker NXP Semiconductors NV is supplying the NFC chips that will enable iPhone users to pay by touch.

Although iPhone is expected to be the central theme of the event, we believe that the rumored wearable device iWatch may steal the show. Although iWatch is not expected to ship until 2015, per sources, Apple expects to ship about 50 million units within the first year from the date it hits the market.

Apart from iPhone and iWatch, we expect Apple to offer an update on the future of its iPad line-up. The company is rumored to launch a much bigger 12.9-inch iPad in early 2015, in an endeavor to revive iPad sales. Currently, Apple develops two iPads — iPad Air and iPad Mini — with screen sizes measuring 9.7 inches and 7.9 inches, respectively.

We believe that a successful Sep 9 event will not only unveil Apple's future product pipeline but will also reaffirm its position as the leading innovator.

Apple has a Zacks Rank #3 (Hold).

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