Factbox: Top Five Takeaways From Apple’s IPhone Launch Event | Top News

(Reuters) – Apple Inc on Tuesday announced four new iPhones that can tap 5G wireless data networks and a cheaper smart speaker that will compete with offerings from market leaders Amazon and Google.

In a bid to line up new hardware for the upcoming holiday season, Apple last month launched new smart watch models with blood oxygen sensors and updated its iPad range.

The Cupertino, California-based company’s Tuesday launch included smartphones ranging from $699 to $1,399 with new designs and 5G technology.

Here are five key announcements from the event:

Apple said all four new iPhone models in the United States will support millimeter wave 5G, the fastest variant of the technology, as well as lower-frequency bands. Some rival Android devices support only the lower-frequency versions of 5G.

Nearly all of Apple’s rivals, including Samsung Electronics Co Ltd, have 5G models on store shelves already. The iPhone maker’s announcement is likely to bring fresh attention to the technology, even if U.S. carriers are still years away from rolling out the fastest versions.

Apple’s newest base model, the iPhone 12 mini, sports a 5.4 inch (13.72 cm) full screen display, with a dual camera setup and is priced at $699. The device can be pre-ordered from Nov. 6 and shipping will begin a week later. (https://apple.co/3iVIvNR)

The iPhone 12 has a 6.1 inch display and starts at $799. Customers in more than 30 countries will be able to pre-order the phone on Oct. 16 and it will be shipped from Oct. 23.

The “Pro” iPhones come in two variants, Pro and Pro Max, with a price tag starting at $999 and three cameras each. The iPhone 12 Pro Max sports the company’s largest ever display of 6.7 inches. Pre-orders for the iPhone 12 Pro begin Oct. 16 and it goes on

Micron Slides Following Light Earnings Guidance: 6 Key Takeaways

Though it once more topped estimates, a light EPS outlook and mixed demand commentary is weighing on Micron’s (MU) stock post-earnings.

On Tuesday afternoon, the memory giant reported August quarter (fiscal fourth quarter) revenue of $6.06 billion (up 24% annually) and non-GAAP EPS of $1.23. Those numbers respectively beat FactSet consensus estimates of $5.89 billion and $0.98, thus continuing a recent string of sales and EPS beats.

On the flip side, Micron guided for November quarter revenue of $5 billion to $5.4 billion (down 3% to up 5% annually) and non-GAAP EPS of $0.40 to $0.54. Those numbers respectively compare with consensus estimates of $5.27 billion and $0.66.

As of the time of this article, Micron’s stock is down 3.5% in after-hours trading to $48.92. Shares were initially trading following the release of Micron’s report, but sold off after Micron shared its earnings presentation and prepared remarks.

Here are some notable takeaways from Micron’s earnings report, presentation and call.

1. Micron’s Near-Term Demand Commentary Is Mixed

On one hand, Micron generally struck an upbeat tone about smartphone, automotive, notebook, gaming and cloud server memory demand trends.

The company noted smartphone and auto demand has begun rebounding, with the former market also benefiting from the launch of 5G phones packing more DRAM and NAND flash memory than their 4G predecessors. It also mentioned gaming DRAM demand remains strong, aided by both upcoming console launches and Nvidia’s (NVDA) recent gaming GPU refresh, and that while cloud memory demand is expected to moderate some in the second half of 2020 following a first-half surge, it’s still healthy overall.

At the same time, Micron said its short-term demand outlook has weakened amid weak enterprise server/storage demand and elevated inventories among some enterprise clients. The company also noted desktop PC sales are weak, that the