Apple's (AAPL) Mega Edition IPhone To Be Named IPhone X

Apple Inc’s (NASDAQ:AAPL) much awaited mega edition iPhone will be called iPhone X while the other two editions will be called iPhone 8 and iPhone 8 Plus, respectively.

Per media reports, there has been a massive leak, most probably by a displeased employee, which has revealed too much information about the new phones and iOS 11.

Noted Apple blogger, John Gruber in his post stated “Someone within Apple leaked the list of URLs to 9to5Mac and MacRumors. I'm nearly certain this wasn't a mistake, but rather a deliberate malicious act by a rogue Apple employee."

BBC has said that it has verified that the information was indeed provided by an anonymous source, to the above-mentioned two publications, by leaking the iOS 11's golden master (GM) code links. The links enabed data download from Apple's internal servers.

Per sources, the leaks have revealed references to iPhone X that will have a new facial unlocking technology. There will be no home button to make room for a large screen. The new phone will have a virtual home bar, which is expected to be operated by gesture controls. The new phone will have the 18.5:9 elongated aspect ratio along with a resolution of 2436 x 1125 pixels.

Reportedly, there are also leaked images of the new Apple Watch and AirPod. There is also a reference to animoji, which is apparently a messaging app that deploys 3D technology to create emojis that imitate the users’ expression, per media reports.

Expectations regarding the upcoming iPhone X are humongous as it marks the tenth anniversary of the first iPhone. The revolutionary iPhone, first released in June 2007, had changed the world forever. The iPhone was the first phone to have a touch screen and was a "breakthrough internet device".

Upon release, the phone received terrific response. Following that, the success of iPhone over the last decade is well chronicled. Apple has sold over a billion iPhones across the globe. However, over the past few quarters, Apple’s iPhone sales have been marred by increasing competition, especially in China from cheaper handsets like Oppo and Vivo.

Apple’s big event will be held on Sep 12, 2017 at the Steve Jobs Theater at its new headquarters in Cupertino, CA, per reports.

Zacks Rank and Share Price Movement

At present, Apple carries a Zacks Rank #3 (Hold).

Notably, the company has outperformed the industry in the past year. Shares of Apple have surged 50.5% compared with the industry’s 48.9% increase.

Stocks to Consider

Better-ranked stocks in the broader technology sector include Applied Materials (NASDAQ:AMAT) , Activision Blizzard (NASDAQ:ATVI) and Applied Optoelectronics (NASDAQ:AAOI) , all sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Long-term earnings growth rate for Applied Materials, Activision and Applied Optoelectronics is currently projected to be 17.1%, 13.6% and 17.5%, respectively.

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