Apple Updates: Augmented Reality Plans, Stock Prices Jump, Cheap iPhone Phenomenon

After months of grueling slogs through disappointing sales and obstacles in China, it seems Apple is finally on the upwards path once again. Stocks went up, its cheap iPhone offering is selling better than expected, and the company’s plans for augmented reality features is hopeful.

Apple CEO Tim Cook talked about AR at length during the most recent quarterly conference calls, according to Venture Beat. The tech company doesn’t have any technology related to the trend right now, so it is basically playing catch up at this point, which is why it’s a good thing that Cook is bringing it up.

He focused heavily on “Pokemon Go” during his speech, as well as the impact that it has had on the mobile industry, what with it being the biggest app in history. By hosting the app on the company’s app store, Apple has been raking in a sizable chunk of the profits from the phenomenon, which is likely why it caught the attention of the big man, himself.

Cook praised the revolutionary impact of the app as well as potential profits that AR technology brings to the table.

“We are high on AR for the long run,” Cook said. “We think there’s great things for customers and a great commercial opportunity, and so we’re investing.”

Speaking of investing, Apple’s stocks jumped by 6.5 percent after posting earnings that surpassed the expectations of Wall Street, Business Insider reports. The company sold 1 million iPads more than analysts predicted, but the overall revenue is still 14.5 percent under compared to the same period last year.

Bloomberg also attributed the improved performance by Apple to the cheaper “iPhone SE” model, which costs only $399. Demand for the unit was so overwhelming in fact, that the company’s Chief Financial Officer Luca Maestri noted how they could not fulfill all of the orders of the “SE.”