At its “Hi, Speed” event, Apple Inc. (AAPL Quick QuoteAAPL - Free Report) has launched the much-anticipated set of new iPhones — iPhone 12, iPhone 12 Pro, iPhone 12 Pro Max, and iPhone 12 mini —  that come with 5G technology for the first time for faster connectivity.

These models will run on Apple’s custom chip that company calls the fastest yet for a smartphone. These range in size from the mini's 5.4-inch screen to the Pro Max, which has the largest iPhone screen ever at 6.7 inches. All the devices sport an all-screen Super Retina XDR display, the A14 Bionic chip, a Ceramic Shield front cover, LiDAR Scanner, and of course, the iPhone line's best camera system (read: ETFs Popping on Apple and Amazon Events).

The gadget maker continues to focus on a lower pricing strategy initiated last year in order to lure customers. Out of the four, iPhone 12 mini seems to be the most affordable with a starting price tag of $699. The iPhone 12 will start at $799, while the iPhone 12 Pro and iPhone 12 Pro Max could begin at $899 and $1,099, respectively. The iPhone 12 and Pro will be available on Oct 23, while the mini and Pro Max will arrive on Nov 13. The first two models are available for pre-order on Oct 16, while the second pair will go on pre-sale on Nov 6.

Apart from the new iPhone models, Apple introduced its HomePod Mini smart speaker, which includes a touch panel on its top for play/pause and volume options, along with a light-up display to indicate the use of the Siri assistant.

Solid Fundamentals

The new iPhone models were welcomed by Wall Street analysts, including Wedbush Securities, Goldman Sachs, Jefferies, Morgan Stanley and Needham.

Apple has seen rising earnings estimate revisions of 17 cents for the fiscal year (ending September 2021) over the past 90 days. This represents substantial year-over-year growth of 23.7%. Revenues are expected to grow 15.2%. The stock is cheap, trading at a P/E ratio of 2.75 compared with a few FAANG names — Amazon’s (AMZN Quick QuoteAMZN - Free Report) 3.61 times and Netflix’s (NFLX Quick QuoteNFLX - Free Report) 2.95 times.

Further, Apple currently carries a Zacks Rank #3 (Hold) and a Growth Score of B. It boasts a top-ranked Zacks industry (top 49%), suggesting strong upside for the stock over the coming days (see: all the Technology ETFs here).

ETFs in Focus

The slew of new gadgets and analysts’ optimism over the smartphones will drive Apple shares higher. As such, investors seeking to tap the bullishness in the tech titan could consider the following ETFs. These funds have Apple as their top firm with a double-digit allocation and sport a Zacks Rank #1 (Strong Buy) with a Medium risk outlook.

Select Sector SPDR Technology ETF (XLK Quick QuoteXLK - Free Report)

This most-popular technology ETF has $33.7 billion in AUM and charges 13 bps in fees per year from its investors. AAPL makes up for roughly 23.6% of assets.

Vanguard Information Technology ETF (VGT Quick QuoteVGT - Free Report)

This fund manages about $36.3 billion in its asset base with 23.2% allocation in Apple. It has 0.10% in expense ratio.

MSCI Information Technology Index ETF (FTEC Quick QuoteFTEC - Free Report)

With AUM of $4.5 billion, the product allocates 21.9% in Apple. The ETF has 0.08% in expense ratio (read: What Does Apple's iPhone 12 Launch Mean for These ETFs?).

iShares Dow Jones US Technology ETF (IYW Quick QuoteIYW - Free Report)

This ETF provides investors exposure to technology stocks with 20.1% allocation in Apple. The fund has AUM of $6 billion and charges 43 bps in fees and expenses.

Invesco QQQ (QQQ Quick QuoteQQQ - Free Report)

This ETF provides exposure to the largest domestic and international nonfinancial companies listed on the Nasdaq Stock Market based on market capitalization. Apple accounts for 13.6% share. It has AUM of $133.4 billion and charges 20 bps in annual fees.

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