Apple's New Lower-Cost iPhone: A Key Catalyst

There weren't any big surprises at Apple's (NASDAQ: AAPL) event on Tuesday, but that doesn't mean the event was a letdown. The tech giant unveiled a range of new products, including:

While all of these announcements are important, one announcement on Tuesday will likely be particularly impactful on the tech company's near-term financial performance: the new iPhone SE. Here's what we know about the new device, and why it will likely prove to be an important catalyst for Apple's business.

Apple's new iPhone SE is the company's lowest-cost smartphone in its lineup, with a starting price of $429. Importantly, this price is far below the starting prices of its iPhone 13 Pro and iPhone 13 Pro Max at $999 and $1,099, respectively. Further, it's still priced meaningfully below its mid-tier iPhone 13 mini and iPhone 13, which have starting prices of $699 and $799, respectively.

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Source Fool.com