Apple is expected to take the wraps off its next iPhone on Tuesday during what has become an annual late summer rite aimed at giving more people more reasons to buy the technology trendsetter’s marquee product.
The showcase at Apple’s Cupertino California, headquarters comes as the company is mired in a mild slump that has seen its sales drop from last year in three consecutive quarters—with management signaling another downturn is likely during the current quarter that will be capped with the release of its iPhone 15 lineup. The malaise is a key reason Apple’s stock price has dipped by nearly 10 percent since mid-July, dropping the company’s market value below the $3 trillion threshold it reached for the first time earlier this summer.
