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CUPERTINO - Apple (AAPL), the $3.2 trillion technology giant with consistently strong financial health according to InvestingPro metrics, introduced AppleCare One, a new subscription service that allows customers to protect multiple Apple products under a single plan for $19.99 per month, the company announced in a press release.
The plan, which becomes available Thursday, covers up to three Apple devices with the option to add more products for $5.99 per month each. The service includes unlimited repairs for accidental damage, 24/7 priority support, and Apple-certified service. This move comes as Apple maintains its strong market position, generating over $400 billion in revenue over the last twelve months.
AppleCare One expands theft and loss protection beyond iPhones to also include iPads and Apple Watches, with applicable fees and deductibles. According to the company, customers can save up to $11 monthly compared to purchasing separate AppleCare+ plans for individual devices.
A key feature of the new service allows customers to add eligible devices they already own that are up to four years old, provided they are in good working condition. This extends beyond the current 60-day window for purchasing AppleCare+.
The plan also offers simplified management features. When customers trade in a covered product directly to Apple, it is automatically removed from their plan and replaced with the new device.
"Built on the trusted foundation of AppleCare+, AppleCare One extends that same reliability and makes it easier than ever to protect the products you love and depend on," said Bob Borchers, Apple’s vice president of Worldwide Product Marketing, in the statement.
Customers can sign up for AppleCare One directly on their iPhone, iPad, or Mac, or by visiting an Apple Store. For investors seeking deeper insights into Apple’s business model and growth potential, InvestingPro offers comprehensive analysis through its Pro Research Report, featuring detailed financial metrics and expert analysis of this prominent player in the Technology Hardware industry.
In other recent news, Apple has made notable changes to its App Store rules and fees, which are expected to gain approval from European Union antitrust regulators. This anticipated approval could help Apple avoid substantial daily fines from EU authorities. In the UK, the Competition and Markets Authority has proposed to designate Apple and Google with ’strategic market status’ for their mobile platforms, aiming to enhance competition in the market. UBS has maintained its Neutral rating and $210 price target on Apple, noting a significant drop in iPhone demand in June after strong sales in previous months. Analyst David Vogt from UBS reported an 18% year-over-year decline in iPhone sell-through for June, attributing earlier strong sales to consumer concerns over potential price hikes due to tariffs. Additionally, Apple has launched its online store in Saudi Arabia, marking its first retail presence in the Kingdom, with plans for physical stores by 2026. This expansion includes Arabic-language support and personalized service options for Saudi customers. In Ireland, Apple is contributing to a €14 billion back-tax payment, part of a broader infrastructure spending increase by the Irish government.
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