It’s not just smartphone enthusiasts who are excited about Apple’s big event Tuesday, during which it is expected to unveil three new iPhones and a new Watch. Apple investors are also optimistic.
The company’s shares rose 1.8% to $161.50 in regular trading on Monday in prelude to Apple’s first event at the Steve Jobs Theater at the company’s new Cupertino, Calif. headquarters. The closing price is just shy of the stock’s all-time high of $164.94 set last month.
The stakes are high for Apple and its event, which marks the tenth anniversary of the lucrative iPhone brand. On stage, Apple is expected to debut a new iPhone called the iPhone X that could cost roughly $1,000 and come with an upgraded OLED screen and wireless charging, among other features.
The unveiling of the new luxury iPhone is said to come with the debut of two new smartphones, the iPhone 8 and the iPhone 8 Plus, which will be more comparable to previous smartphones rather than major overhauls, according to various media reports.
Apple (AAPL) is also expected to debut a new Apple Watch that comes with cellular connectivity, making the gadget more powerful than predecessors and no longer in need of being paired with an iPhone for online access.
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The new iPhones face a challenge from Samsung’s newly released Galaxy Note 8, which has received praise from tech reviewers who have said it’s the best Android-powered smartphone released yet.
