Apple shares gain 3% a day ahead of ‘Time Flies’ event as world speculates what's in store

Apple stock was up 2.42 per cent at $114.71 early on Monday, while Nasdaq Composite was up nearly 2 per cent to 11,069 points.

Mumbai: Shares of Apple jumped nearly 3 per cent on Monday, ahead of the tech giant’s major event scheduled on Tuesday, as speculations were ripe that the company may make a series of product announcements at the much-awaited event.

The stock was up 2.42 per cent at $114.71 early on Monday, while Nasdaq Composite was up nearly 2 per cent to 11,069 points.

Apple is scheduled to hold a major event, titled "Time Flies" on Tuesday, during which it is expected to reveal a host of new products and updates. The event will be live at 10 am Pacific Times or 1030 pm IST, and can be viewed on the company’s website.

The event will be held virtually this year in light of the Covid-19 pandemic.

Will it be a launch of iPhone 12, Apple Watch series 6, or new iPads?

We will have to wait until tomorrow to know, but as per media reports, the tech major may not unveil a new iPhone at the event, but may unveil a new Apple Watch.

While the event announcement on Apple’s website is silent about what it may announce, the media invitation is tagged “Time Flies,” which has triggered speculation that the announcement may be related to the Apple Watch, and not iPhones.

Earlier, Bloomberg had reported the tech giant won’t launch until October. It also reported the company is preparing new high-end and low-end Apple Watches as well as a redesigned iPad Air with an edge-to-edge screen.

A few other media reports also pointed out that the company may add features such as blood oxygen monitoring and longer battery life to the new Apple Watch. Few believe the company may launch a new iPad or iPad Air.

Last month, Apple breached the $2 trillion mark in terms of market capitalization, making it the first US company to do so.