Apple’s Stock Depends on iPhone That Wasn’t There

SourceThe Wall Street Journal
SectorFinancial Markets

Such is Apple Inc.’s fate that even solid updates to businesses worth nearly $107 billion a year in sales aren’t quite enough. Apple announced new iPads, Watch models and a bundled subscription service on Tuesday. The new iPad Air gets the company’s most advanced processor and starts $100 higher than its predecessor, while two new Apple Watch models beef up both the top-end and midrange options for that product family. The new services offering called Apple One bundles several of the company’s growing range of services under single price points. Combined revenue for iPad, wearable devices and services is expected to total $106.5 billion for Apple’s current fiscal year that ends later this month. That’s still only around three-quarters of the revenue generated by a single product—the iPhone. As more...