Apple Unveils New Products & Steps into the “Buy Now, Pay Later” Arena


New Hardware & Software

Apple (AAPL) kicked-off its annual developers conference on Monday, which will conclude on Friday, announcing a slew of new products, features and services.

The tech juggernaut unveiled an all-new MacBook Air, featuring among other things, a thin and light design, a larger 13.6-inch Liquid Retina display and MagSafe charging [1]. The new laptop along with the updated 13-inch MacBook Pro will be powered by the new M2 chip, which was also announced during the conference.

The M2 chip which is built using second-generation 5-nanometer technology, has an 18% faster CPU, a 35% more powerful GPU, a 40% faster Neural Engine and delivers 50% more memory bandwidth, compared to its predecessor. [2]

Apart from the hardware, Apple (AAPL) also announced the latest software for its iPhones (iOS 16), iPads (iPadOS 16), smart watches (watchOS 9) and MacBooks (macOS Ventura).

New iPhone Software

The Cupertino-based company previewed the latest version of the iPhone software, the iOS 16, which will be available as public beta in July. The company said that the software update will be available this fall for the iPhone8 and newer models. [3]

Despite the lack of specific date for the update, Apple typically rolls out its new iOS versions in September, which is what had happened with the iOS14 and iOS15.

Among other things, the new software will bring the biggest changes to the Lock Screen, updates to the Messages app and new features to the Wallet, with the addition of Apple Pay Later.

Entry into "Buy Now, Pay Later"

Apple announced its own Buy Now, Pay Later (BNPL) service, the Apple Pay Later, which will become available with the new iOS16 software and will be built-in to the Wallet app. [3]

The new service allows users in the US to spread the cost of Apple Pay purchases into four equal interest-free payments over six weeks and they will be able to view and track the payments through the Wallet app. As per the company, the service is available everywhere Apple Pay is accepted online or in-app, using the Mastercard network.

With this new feature, the tech giant steps into the Buy Now Pay Later (BNPL) arena and will compete with fintech firms such as Klarna and Affirm.

The sector has seen increasing popularity over recent years, while Jack Dorsey's Block (former Square), purchased Australian BNPL firm Afterpay for approximately US$ 29 billion [4] - a deal that was competed earlier this year.

According to GlobalData's recent research, the global Buy Now Pay Later (BNPL) market, reached $120 billion in 2021, with a compound annual growth rate (CAGR) of more than 85% from 2019 to 2021. [5]

However, the sector has also seen increasing scrutiny, with the US Consumer Financial Protection Bureau having opened and in inquiry into the BNPL credit late last year. [6]

Apple Stock Analysis

The current environment is unfavorable for the stock market and the tech sector in particular, with growth stocks more vulnerable to higher interest rates. NAS100 has been trading in bear territory for quite a while now, losing more than 20% from its November record high at the time of writing, that is typically viewed as the threshold. had also slipped into bear territory last month, but as of Tuesday's close it was losing less than 20% from its January all-time high. Higher interest rates, high inflation, economic slowdown, supply chain disruptions and the pandemic lockdowns in China, are some key factors that have led to this year's poor performance. However, Apple sits in a pile of cash and its stock has been often treated as a safe-heaven.

Following last month's 2022 lows, the stock has posted a noteworthy recovery, which reached the 38.2% Fibonacci of the 2022 High/Low drop. This gives it the opportunity to push for the EMA200 (155.80-156.13) and closes above it, would bias back on the upside and allow it to extend its recovery.

On the other hand, has not managed to leave 38.2% behind it and below the EMA200 it is vulnerable on the downside that keeps risk of fresh lows on. Furthermore, in late-May a Death Cross was formed (the EMA50 crossing below the EMA200), which is often a forerunner to sustained weakness. However, the last such formation in December 2018 was relatively short-lived, since it reversed to a Golden Cross in April of the next year.

Nikos Tzabouras

Senior Financial Editorial Writer

Nikos Tzabouras is a graduate of the Department of International & European Economic Studies at the Athens University of Economics and Business. He has a long time presence at FXCM, as he joined the company in 2011. He has served from multiple positions, but specializes in financial market analysis and commentary.

With his educational background in international relations, he emphasizes not only on Technical Analysis but also in Fundamental Analysis and Geopolitics – which have been having increasing impact on financial markets. He has longtime experience in market analysis and as a host of educational trading courses via online and in-person sessions and conferences.



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