AAPL Stock Hits Record High As Apple Unveils HomeView, Revamps Smart Home Lineup

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Apple introduced the $299 HomeView alongside updated HomePod mini and Apple TV devices.HomePod mini received its first major update since 2020, while Apple introduced its first new Apple TV set-top box since 2022.Apple's Wearables, Home and Accessories revenue rose 6% to $7.88 billion in its latest quarter, accounting for about 7.2% of total sales.Apple (AAPL) shares climbed about 2% to a new record high on Tuesday after the company unveiled several new smart home products at its October 13 "Welcome Home" event, expanding its presence in connected-home devices.The announcements included the new HomeView smart display, an updated HomePod mini 2 speaker, a refreshed Apple TV 4K and a range of home accessories developed with LG Electronics and Schneider Electric.At the time of this writing, AAPL stock was trading 1% higher at around $344.Apple Expands Its Smart Home LineupThe $299 HomeView marks Apple's entry into dedicated smart home displays, combining entertainment, video calling and household device controls in a single product. Powered by Apple's updated Siri artificial intelligence (AI) assistant, the device can also manage connected accessories such as cameras, doorbells and thermostats. It will become available on November 13.Apple also refreshed two existing products after several years without major updates. The $149 HomePod mini 2 is the first update to the speaker since its 2020 introduction, while the new Apple TV 4K marks the first refresh of Apple's TV set-top box since 2022.The HomePod mini 2 will become available on October 30, although its new Siri AI capabilities will arrive through a future software update. The updated Apple TV 4K will be available on November 13. Apple also announced its Home Collection, developed with LG and Schneider Electric, featuring security cameras, smart locks, video doorbells and thermostats. The accessories will begin rolling out in December.How Important Is The Home Business To Apple?The launch comes as Apple competes with Amazon (AMZN) and Google (GOOG, GOOGL) in the smart home market. Reuters reported that Apple's earlier efforts faced challenges related to Siri's functionality and compatibility with third-party devices.Apple does not separately disclose revenue from its home products; instead, it includes them in its broader Wearables, Home and Accessories category. The category generated $7.88 billion in Apple's fiscal third quarter ended June 27, up 6% from $7.40 billion a year earlier. That represented about 7.2% of Apple's total quarterly revenue of $109.4 billion, up 16% year over year. The latest launches also come shortly after a leadership transition at Apple.John Ternus took over as CEO on September 1, succeeding Tim Cook, who moved into the executive chairman role. Ternus previously led Apple's hardware engineering division, overseeing development across several major product lines.The new home lineup is among Apple's first major product introductions under Ternus. Apple has not disclosed revenue targets for HomeView or the broader smart home expansion.What Retail Thinks About AAPL StockOn Stocktwits, retail investors’ sentiment around AAPL stock continued to remain in the ‘bearish’ zone. AAPL stock retail sentiment on October 13, as of 10:00 a.m. ET | Source: StocktwitsSo far this year, AAPL stock has rallied over 22% and is the best-performing Magnificent Seven stock year-to-date. The Vanguard Information Technology ETF (VGT) and the State Street Technology Select Sector SPDR ETF (XLK), which hold the stock, have risen around 33% and 36% respectively over the same period.See Also: Why Is BMBL Stock Surging Today?For updates and corrections, email newsroom[at]stocktwits[dot]com.

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