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Apple (AAPL) Launches Low-Cost iPhone SE With A13 Processor

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Apple AAPL introduced its low-cost 2nd generation iPhone SE (2020), after postponing the official launch last month due to coronavirus outbreak. The new model comes in black, white or red with storage options ranging from 64GB to 256GB.

To lower cost, Apple is using an iPhone 8 design that debuted in 2017 with a 4K Retina video display and a Touch ID fingerprint scanner instead of 3-D facial recognition, bringing back the Home Button to iPhones.

Additionally, the new iPhone has 3GB RAM, which marks an increase from 2GB in iPhone 8 but is lower than 4GB in the other A13 phones in the iPhone 11 family. However, the power cell remains 1,821 mAh, same as iPhone 8.

While it does not offer facial-recognition security, the new iPhone SE 2020 has the same A13 Bionic processor as the iPhone 11 family. In benchmarks, this chip tops both Qualcomm’s QCOM Snapdragon 865 and Huawei’s Kirin 990, making it the most powerful mobile processor on the market.

In terms of the camera, the iPhone SE 2020 features a 12-megapixel rear camera f/1.8 aperture wide camera. The camera includes a Portrait mode, along with six Portrait Lighting effects and Depth Control with a 7-megapixel front camera, which is also capable of taking stunning portraits using machine learning and monocular depth estimation.

Apple Inc. Price and Consensus

Apple Inc. Price and Consensus

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

Apple’s Bid to Win China Market Share With iPhone

The launch of the new iPhone SE shows that Apple’s supply chain in China might be returning to normalcy amid the global pandemic. In March, Apple started selling two new Mac personal computers and an updated iPad Pro.

According to data from the China Academy of Information and Communications Technology (CAICT), Apple shipped 2.5 million iPhones to China vendors in March, a sharp jump from just 500,000 in February when the virus outbreak was at its peak in the country, per a Reuters report.

However, Apple’s market share in China, its third-biggest market where it records roughly 15% of its sales, has shrank over the past several years, as local Android brands steadily release higher-end phones.

The iPhone-maker faces intensified competition from rivals who are now releasing 5G devices compatible with China’s upgraded telecommunications networks while Apple is yet to launch an iPhone with 5G capability.

China is the only major market where Apple’s stores have reopened as the spread of the virus has prompted governments around the world to impose lockdowns and other social distancing measures.

The new iPhone SE series will be available for preorder from Apr 17, and it will start shipping from Apr 24. There will be a 128GB model offered for $449 and a 256GB model for $549. Like other iPhones, it will come with a free year of Apple TV+ subscription.

Zacks Rank & Stocks to Consider

Apple currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the broader technology sector include Inc. STMP, sporting a Zacks Rank #1 (Strong Buy) and HP Inc. HPQ , which carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Long-term earnings growth for and HP Inc. is currently projected to be 15% and 2.6%, respectively.

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