Mark Your Calendar: Here Comes Apple's iPhone 7 Event

By Markets Fool.com

Tech giant Apple (NASDAQ: AAPL) will hold a product-launch event next Wednesday, according to invitations sent out to press on Monday.

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"See you on the 7th," reads the invitation, which pictures the top half of an Apple logo.

Apple's fall 2016product-launch event. Image source: Apple.

Here's what Apple will likely unveil at its event next week.

iPhone 7 and 7 Plus

The main product expected to debut at Apple's Wednesday event is its flagship iPhone. Given that the company refreshes the iPhone every year in September, this is basically a given.

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As for what features to expect from the rumored iPhone 7 and 7 Plus, MacRumors is anticipating the phone will keep the same overall form factor introduced two years ago with the iPhone 6 and 6 Plus -- a form factor it carried over to the iPhone 6s as well. However, MacRumors expects several changes to the exterior for both the iPhone 7 and 7 Plus: mainly the elimination of a headphone jack;a flush, pressure-sensitive home button; and redesigned antenna bands.

But the iPhone 7 and 7 Plus are expected to receive more substantial performance upgrades, including an upgraded processor, improved water resistance, higher storage capacity, and an improved camera. The iPhone 7 Plus, in particular, is expected to get a dual-lens camera.

The iPhone will likely be the product investors are most interested in at the event, as it accounts for well over half of Apple's revenue and profits.

A new Apple Watch?

Another possible product to debut during Apple's event next week is a new version of the Apple Watch.

MacRumors' Juli Clover explains:

Apple may use the event to debut a second-generation Apple Watch, said to include better waterproofing, an improved processor, and a built-in GPS chip. Design changes are not expected for the next-generation Apple Watch, but new materials and new bands are always a possibility. Apple rotates its Apple Watch band offerings on a regular basis and we expect to see new designs this fall.

The Apple Watch. Image source: Apple.

Unlike the iPhone, the Apple Watch represents a very small portion of Apple's revenue. It is lumped into Apple's "other products" segment, which accounted for 5.2% of the company's revenue in Apple's most recent quarter. But a refreshed Apple Watch could still be important, as the category is still new and it could represent a growth opportunity for Apple.

What else?

Both Apple's MacBook Pro and its desktop Mac lineup are about due for an update, but rumors don't point to new releases for these segments at the event.

Beyond these rumors, it's difficult to predict any new services, or updates for its existing services, such as Apple Pay, iCloud, Apple Music, iTunes, or Siri. It's arguably easier for Apple to keep new services secret, since they don't always require collaboration with third-party suppliers, so it's still possible that Apple has something in the works the ever-active Apple rumor mill isn't aware of.

Furthermore, the tech giant hasn't completely lost the ability to keep some hardware designs secret -- this was the case with the company's 2013-launched Mac Pro, and even the 2014-introduced Apple Watch. A hardware surprise, however, is unlikely; Apple's sprawling global supply chain makes keeping these ventures out of the limelight difficult.

Apple will livestream its event on Wednesday, Sept. 7, at 10 a.m. PDT. Stay tuned at The Motley Fool for analysis of any announcements the company makes.

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Daniel Sparks owns shares of Apple. The Motley Fool owns shares of and recommends Apple. The Motley Fool has the following options: long January 2018 $90 calls on Apple and short January 2018 $95 calls on Apple. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.