In a tumultuous time for global markets, Apple was the only tech stock that went up on a bleak Tuesday this week. While other stocks tumbled amid rising fears regarding the emergence of the Omicron Covid-19 variant, Apple showed signs of being an increasingly ‘safe’ option for investors. Plus with rumors growing about what Apple’s ‘next big thing’ could be, it looks as though the tech brand might have what it takes to survive the current economic storm.
At the end of Tuesday’s trading, Apple’s stock price had risen by just over 3%. Much of this was due to positive perceptions about the sheer size of the cash flow at the tech giant. It is these monumental cash reserves that has led to the belief that Apple should be able to survive any slowdowns in the economy should the Omicron variant be as disruptive as many fear.
What’s remarkable is the fact that Apple succeeded where many rival tech brands failed. All of Meta, Alphabet, Microsoft and Amazon saw their stock prices fall. Plus indices ranging from the Dow Jones Industrial Average to the NASDAQ and S&P 500 all saw big drops in value.
What can we expect from Apple’s ‘next big thing’
One of the more common criticisms of Apple is the fact that the tech brand hasn’t launched any major new products in recent years. However all of that could be set to change as Apple is poised to release a new headset in the coming months.
It’s widely expected that the augmented reality glasses will be premiered at the Apple Worldwide Developers Conference in June 2022. The computerized glasses are expected to be just as powerful as a Mac computer and are rumored to be either an accessory or even an entire replacement for the hugely popular iPhone.
Previous attempts at augmented reality glasses such as the Google Glass were largely ridiculed for a variety of reasons such as the glitchy performance and inept user-interface. But the huge amounts of processing power behind Apple’s computerized glasses will mean that they can handle even the most intensive tasks without relying on a partnered smartphone or computer.
Of course, there is plenty of time before the release of such a hotly anticipated product. Thankfully, Apple’s core product range is selling well in the run-up to what’s expected to be a busy festive season. Key products such as the iPhone Pro and the latest generation of tablets are performing as expected and hopes are high that it could be a record fourth quarter for the tech giant.
All of this is hugely impressive as Apple has been battling an ongoing supply chain crisis that has hampered the production of important computer chips across the tech sector. As such there’s every chance that Apple could improve on the stunning 25% growth of its stock price that it has seen across 2021.