Apple (NASDAQ:AAPL) has long been known as a leader in technological innovation. Though that lead has diminished somewhat as each new iPhone starts to look vaguely similar to the last four or five with incremental improvements, it’s still there for a reason. And new reports about new battery technology have given Apple a fractional boost in Thursday afternoon’s trading.
While the “right to repair” concept has gained ground in recent years, even at Apple—Canadians just got the right to repair their Apple devices, rolling out sometime next year—it’s still often an “easier said than done” sort of proposition. But the latest move in battery technology may change some of that.
According to reports, the new technology should ultimately make iPhone batteries easier to replace than the current alternative. The old way required the battery to be detached from adhesive strips using a tool only available via rental from Apple. The new option is somewhat unclear but would reportedly address the issue and make it easier to pull a battery without specialized tools.
Soon, iPhones May Look a Lot Different
Meanwhile, that whole “vaguely similar” thing I mentioned before? It may not be a thing for too much longer if current reports hold out. A new patent application shows a very different-looking iPhone, one that boasts a removable back panel for easier access to the battery and even for additional hardware to be clipped on. Tools like extra batteries, devices for health monitoring, and even extra displays could be more readily added, opening up a slew of new use cases that could breathe some life into the aging iPhone line.
Is Apple a Buy, Hold, or Sell?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on AAPL stock based on 24 Buys, 10 Holds, and one Sell assigned in the past three months, as indicated by the graphic below. After a 13.36% rally in its share price over the past year, the average AAPL price target of $217.19 per share implies 1.68% upside potential.
