Apple (AAPL) introduced several new software features and services at its “Worldwide
Developers Conference,” including an updated iPhone lock screen and a pay-later option that
moves the company further into the finance sector.
The new payment feature, called “Apple Pay Later,” is an addition to its Wallet app, and part of
the consumer electronics giant’s expansion into finance that also includes bringing more of its
infrastructure in-house.
The weeklong conference previews key features for Apple’s developers, which now number 34
million, according to Chief Executive Officer (CEO) Tim Cook. The wide-ranging upgrades are
meant to keep users loyal and using more Apple products. Once change to the Mac operating
system, for instance, will let customers use their iPhone as a webcam with their computer.
Apple’s latest iPhone software, iOS 16, will include the new lock screen, letting users
personalize the feature and view widgets that are bits of software that handle simple tasks. A
feature called “Live Activities” will make it easier to keep track of events or activities, such as an
NBA basketball game or an Uber ride that’s been ordered.
The peek at the software features comes a few months ahead of the launch of a new iPhone,
which typically gets released each autumn. Global iPhone sales accounted for more than half of
the company’s revenue in the last fiscal year, generating almost $192 billion U.S.
On the hardware side, Apple unveiled two new Mac computers, including the biggest refresh of
its Air model in more than a decade. The new computers will use the company’s proprietary M2
chip, which Apple developed after splitting from Intel (INTC).
The announcements also included an update that will let users edit messages they’ve already
sent and unsend messages. And Apple’s CarPlay is getting an overhaul that will integrate more
tightly with a vehicle’s instruments, such as the speedometer and other gauges.
The Apple Watch also is getting improvements, such as atrial fibrillation detection to help with
heart health. And the device’s latest software – watch OS 9 -- will better track sleep to indicate
what stage users are experiencing at different times of the night.
Apple also said it plans to work with developers to create a “password-less future.” The
company is updating its Safari browser to help with password management and moving toward
Passkeys, which are cryptographic keys that can’t be phished and are stored directly on
devices.
A new collaboration app called Freeform, meanwhile, puts Apple in closer competition with
Zoom Video Communications. And the iPad is getting more multitasking features and a long-
awaited weather app.
Apple stock is down 20% year to date at $146.14 U.S. per share.
