Apple (AAPL Quick QuoteAAPL - Free Report) has released the second test version of iOS 15.6 for all developers thirteen days after releasing the first beta version. The company has also released beta 2 versions of watchOS 8.7, tvOS 15.6 and macOS 12.5.

The recent upgrades, however, have not made available many important features since Apple will unveil the most anticipated upgrades for iOS 16 in the upcoming Worldwide Developers Conference (“WWDC”) 2022 event. The company will host WWDC from Jun 6 through Jun 10.

Apple’s recent enhancements across its various platforms are expected to attract more customers to its various products and services, thus driving its revenues.

During the WWDC, Apple exhibits its latest innovations in iOS, iPadOS, macOS, watchOS and tvOS.

Per 9to5Mac, the recent iOS 16 upgrades will bring significant improvements to notifications as well as a new interface for iPadOS multitasking.

Apple is also expected to bring major changes to its flagship iPhones as the company is expected to switch from Lightning charging to USB-C for powering iPhone 15 along with AirPods and other accessories by the second half of 2023.

Apple is switching from Lightning charging to USB-C port to improve iPhone’s transfer and charging speed, thus improving its performance amidst tough competition.

Apple Inc. Price and Consensus

Apple Inc. price-consensus-chart | Apple Inc. Quote

Moreover, recent regulatory pressures from Europe are forcing Apple to make the switch as EU fights to implement new charging standards. The International Market and Consumer Protection Committee aims to implement new rules to help consumers avoid the need of new charging cables every time they buy new devices.

The EU continues its fight to make USB-C charging the standard format for portable devices. This move comes as part of the EU’s broader plans to reduce e-waste. Annually, almost half a billion chargers are imported into Europe, generating 11,000-13,000 tonnes of e-waste. Against this grim scenario, single chargers for mobile phones and other portable devices can help reduce e-wastage and protect the environment.

The changes made by Apple to shift from Lightning to USB-C port are expected to attract ESG compliant investors as AAPL is hell-bent on investing in making technological upgrades to ward off competition.

Shares of Apple, which currently carries a Zacks Rank # 3 (Hold), have fallen 16.2% in the year-to-date period compared with the Zacks Computer and Technology sector’s decline of 24.5%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Apple Services: The Key to Rising Above the Competition

Apple is facing stiff completion across all of its products and services. However, the company’s robust business model to provide updated software with new features across all of its offerings and the services business is becoming the key differentiator for its profitability.

Apple has recently brought innovative upgrades to cater to disabled people with their plethora of services. Apple is committed to investing in making technological upgrades to counter competition.

Apple previously extended services of its Maps application to several U.S. cities like Chicago, Detroit, and other Midwestern cities with cycling directions to help cyclists find the best route with a bike lane.

The recent feature to help blind people navigate, along with the previous upgrade to include health enthusiasts, is expected to intensify its competition with Alphabet’s (GOOGL Quick QuoteGOOGL - Free Report) Google Maps.

Alphabet’s Google recently upgraded its map services with new features to attract more customers, even among iPhone users. Google Maps has been upgraded with toll prices for the first time to help drivers decide when to take toll roads or regular roads to avoid traffic.

The new features are easily accessible from the iOS home screen in the iPhone and let users navigate with Google Maps using the Apple Watch. These new upgrades will help Google attract iPhone users to their map services.

Apple has recently updated the iOS and watchOS with new health-tracking features after the company expanded the Fitness+ program by introducing a postpartum fitness routine to the service. Apple Watch’s new upgrade to include pregnant women, senior citizens and currently users with locomotive disabilities will help the company fend off competition from the likes of Garmin (GRMN Quick QuoteGRMN - Free Report) .

Garmin has been able to benefit from the growing fitness business amid the pandemic with its different smartwatches to meet the diverse needs of outdoor hikers, swimmers as well as other health enthusiasts.

Apple’s augmented-reality (“AR”) ambitions are well-known. In fact, CEO Tim Cook is known to be a fan of AR technology. The iPhone maker's rumored headset is a highly anticipated product to be launched in 2022, which will go head to head with Meta Platforms’ Ray-Ban Stories smart glasses, developed in collaboration with EssilorLuxottica.

Meta Platforms has recently begun testing tools to sell digital assets and services in the virtual reality platform — Horizon Worlds — an early iteration of the metaverse. This is a massive step for Mark Zuckerberg's bold ambitions to create the Metaverse, as it will allow the development of commercial activity in the alternate reality independent of the real world.

Apple, on the contrary, is more interested in AR, where users will lay digital objects onto the real world rather than virtual-reality tools that create an entirely new world. These contrasting ideas between the tech giants will result in interesting competition to win market share in the alternate reality space with differentiated products.