Apple’s (AAPL) big September launch event Tuesday featured what we would describe as a slew of incremental updates to the tech giant’s most popular devices. Wall Street was not all that impressed. However, we did find encouraging moments. The webcast from Apple headquarters in Cupertino, California came at a particularly turbulent time for the stock after reports that China banned its government workers from using iPhones or any other foreign devices at work. The news crushed Apple shares last Wednesday and Thursday, wiping out $200 billion in stock market value . Apple had stabilized with small gains on Friday and Monday, which were erased, and then some, in Tuesday’s post-event decline. Jim Cramer has said since the China rumors first started circulating that the decline in Apple stock was overblown. AAPL YTD mountain Apple (AAPL) year-to-date performance There were no major surprises at Apple’s event Tuesday — and perhaps, that’s why the stock fell 1.7%, halting a nascent two-session bounce after last week’s China-related pressure. But, the announcements, which included a new iPhone 15 and an Apple Watch refresh, further strengthened the company’s best-in-class ecosystem. The power of Apple’s ecosystem — devices and services together — is at the core of our “own it, don’t trade it” investment thesis on the stock, which Jim upheld last week. New iPhone features Apple unveiled the iPhone 15 and iPhone 15 Plus, complete with USB-C charging instead of the propriety lightning port, starting at $799 and $899, respectively. Those prices did not change. The iPhone 15 Pro starting at $999 was unchanged from the previous model as well. The Pro Max — starting at $1,199 — is the same for the 256GB as the previous one. Apple dropped the 128GB Pro Max option in the new iteration. Preorders start Friday with availability on Sept. 22. The biggest change for the devices is the USB-C charging ports. Newer iPhones will soon share a charger with Android phones, most…
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