Will Apple Lay An Egg At The iPhone Event Tomorrow?

It's September, so its time for yet another Apple event where the company will reveal the iPhone 7 and, according to the grapevine, the next version of the Apple watch. Apple is hoping that a faster processor and better camera technology will staunch falling iPhone sales while they continue with the incantation of "wait until next year." Next year will be the 10th anniversary of the iPhone and that is when the company is hoping to unveil the latest and greatest technological changes to the iPhone. However, the wait until next year mantra has been one Tim Cook, Apple boss, has been chanting since pretty much the day he took over as CEO of the company.

With the iPhone, the newest version reportedly will have a design that looks mostly like the iPhone 6 and the iPhone 6Plus but the two antenna lines at the back will be removed, the screen sizes will remain the same (4.7 inches and 5.5 inches), and a Home button that provides a vibration when pressed instead of a click (Be still my beating heart). In addition, the headphone jack will be gone in the iPhone 7 replaced by an additional speaker possibly, a better single lens camera for the 4.7 inch iPhone and a new dual lends camera for the 5.5 inch one and a faster and newer processor for both sizes of the new iPhone. Finally, there is also chatter that there will be a new payment integration software for a Japanese payment system called FeliCa.

The new Apple watch will now come with a GPS chip for better fitness tracking and faster processor for applications and moving through the various functions. In addition, battery life improvements are also expected so as to be able to better support the GPS system.

New and improved MacAirs, MacBook Pros and iMacs are also expected but most sources say those will be updated in October.

Also on Forbes:

There was an interesting report out from Digitimes that said that Apple has increased its parts and component orders in its supply chain by about 10%. If there is any sort of supporting report that comes out tomorrow or in the next day or two, the Apple event will more than likely not matter much at all going forward since it will establish that the company expects a strong replacement cycle going forward.

Additionally, with all eyes on the iPhone 7 launch, maybe investors are losing track of the iPhone SE which is supposedly seeing better than expected demand and could provide the upside in the current quarter.

Finally, no one expects anything from the big event tomorrow save for the same old song and dance with the usual canned applause and admiring whistles from the crowd, so maybe, just maybe, Apple can pull off a surprise?

We shall see.

PS: Tim Cook, saw you cashed in big time last week but buy 10 or 12 shares, man. Your shareholders will thank you for it.

(Long aapl, aapl calls)