Apple Inc on Tuesday introduced a new Apple Watch that monitors blood oxygen, kicking off a fall product lineup for a holiday shopping season that will be unlike any other due to COVID-19.
Apple was expected to update several products including iPads and headphones at an event on Tuesday broadcast from its Cupertino, California, headquarters. Its biggest seller – the iPhone – is expected to be announced next month after executives have said its launch will be delayed by several weeks because of pandemic-related disruptions.
Apple shares have soared this year even as the virus has crippled economies around the world, thanks in large part to booming sales of work-from-home items.
Apple shares were up 2% on Tuesday after climbing more than 50% for the year, well ahead of the 23% gain for the Nasdaq. Even though Apple stock has fallen from a record high earlier this month, it remains near its $2 trillion stock market valuation.
How the new products sell during the holiday shopping season in many markets will largely define how well Apple performs for its entire fiscal year, which started this month.