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March 8, Apple (NASDAQ:AAPL) held its first big event of 2022. The “Peek Performance” event is set to be the first of several big events for Apple this year and it included a key product with the ability to move the needle for AAPL stock: The new third-generation iPhone SE, a mid-range smartphone with 5G. Along with an updated iPad Air and new colors for the iPhone 13, the company unveiled its first all-new Mac model in years.

Source: Vytautas Kielaitis / Shutterstock.com

Apple also announced a new M1 Ultra processor that will shake up other chipmakers.

The day after the event, AAPL stock was on the rise as the market absorbed everything the company announced. That said, should you consider adding Apple stocks to your growth portfolio at this point?

Considering everything Apple announced at Peek Performance and considering that this was only the first of what should be a series of special events this year, the price is right. Even after current gains, Apple stock remains down 14% in 2022.

iPhone SE 3 with 5G is a potential mover for AAPL stock

One of the big stories from the Peek Performance event came early. The third generation iPhone SE 3 starts at $429, putting it squarely in the ideal mid-range for smartphones. It gets an A15 Bionic processor upgrade – the same chip in the iPhone 13 – and 5G connectivity.

This could be a big deal for Apple, as I detailed several weeks ago. An iPhone at this price, with this performance and with 5G has the potential to kick off a huge cycle of smartphone upgrades. Not just the 300 million owners of older iPhones, but also the 1.4 billion owners of older mid-range and entry-level Android smartphones who are at stake. A decade and a half after the release of the ‘original, iPhone sales are still Apple’s biggest source of revenue and the main driver of AAPL stock.

The iPhone SE 3 is one to watch.

iPad Air upgrades to Apple M1 processor

Remember the M1 processor? Apple’s first custom PC chip was groundbreaking, and now it’s in the company’s iPad Air. Apple says the move from the A-series mobile chips to the M1 makes this iPad up to twice as fast as the best-selling Windows laptop in its price range.

Apple unveils the Screaming Fast M1 Ultra processor

Chipmakers love Intel (NASDAQ:INTC) and Nvidia (NASDAQ:NVDA) were watching with concern Apple’s move to its own M1 processor. Apple’s new chip seriously outperformed the competition while consuming much less power. The M1 Max and M1 Pro released last year upped the ante. But on Tuesday, Apple introduced a new processor called M1 Ultra.

Apple claims it is the “the most powerful chip in the world for a personal computer.“It has a 20-core CPU and a 64-core GPU. Apple claims it’s 60% faster than a Mac Pro with a 28-core Intel Xeon processor. The company also claims that its integrated graphics outperform the most high-end video cards – that equates to an 80% speed boost over AMD (NASDAQ:AMD) Radeon Pro WX900X graphics card. And the M1 Ultra delivers that power while using 100W less than a high-end PC processor and up to 200W less than a graphics card.

What should really worry chipmakers like Intel is that the M1 Ultra is being used to power Apple’s new prosumer Mac. The new Mac Pro isn’t out yet — and you can bet it will come with an even more powerful new chip.

The Mac Studio is a whole new Mac

Apple also unveiled its first all-new Mac in years. New mac studio looks like two stacked Mac minis. A small aluminum cube with a bunch of ports. Starting at $1,999, this is an ultra-compact desktop PC that can be outfitted with that M1 Ultra chip to drive five displays and play 18 streams of 8K ProRes video simultaneously.

The company also launched a new Studio Display to go along with the Mac Studio. It packs an A13 processor and a 12MP Ultra Wide camera with Center Stage for video calling (essentially an iPhone built into the 27-inch screen). It also has a six-speaker audio system with spatial audio.

Apple probably won’t sell enough of these particular models to significantly impact AAPL stock, but the company is entering a new phase of challenges for PC makers. With Mac sales accounting for about 9% of Apple’s revenue, any increase in market share is a good thing.

Conclusion on AAPL actions

Nothing is certain these days. A witchcraft of inflation, rising interest rates, war, midterm elections and ongoing supply chain issues has made predicting everything in 2022 an art rather than a science. . That being said, the AAPL stock has been building a growth clinic over the last decade or more. It currently earns a “B” rating in Portfolio Grader and a consensus “buy” rating from investment analysts polled by CNN Business.

2022 is already meeting expectations of being among Apple’s strongest years for new product releases. Recovering AAPL shares now – when they’ve been rocked by the market’s sell-off – makes a lot of sense. With the iPhone SE3, the new Mac Studio and the incredible M1 Ultra processor, Apple is poised to make bigger than usual waves in the smartphone and PC markets. And there’s a lot more to come.

As of the date of publication, Louis Navellier had a long position in AMD and NVDA. Louis Navellier has held (neither directly nor indirectly) any other position in the securities mentioned in this article. The InvestorPlace research staff member primarily responsible for this article has not held (directly or indirectly) any position in the securities mentioned in this article.

Louis Navellier, who has been called “one of the most important fund managers of our time”, broke his silence by this shocking “say it all” video… exposing one of the most shocking events in our country’s history… and the one thing every american should do today.

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