Apple stock appears on report that it will unveil an all-new smart home hub at the October 13 event
Apple (AAPL) stock rose in early trading Wednesday following a report that the company is preparing to hold an event next month outlining its entry into the smart home space.
According to Mark Gurman of BloombergApple will unveil an all-new smart home hub designed to control devices throughout your home, serve as a digital calendar and reminder list, play music, make video calls, and more.
Apple shares rose nearly 3%.
The hub, which can be mounted on a wall or placed on a counter with an accompanying stand, is designed to recognize users and deliver personalized content to them via voice or facial recognition. It will also take advantage of Apple’s new Siri AI platform, which launched in beta earlier this month.
Apple is also working on a secondary version of the smart home hub, featuring a robotic arm that allows the screen to rotate 360 degrees.
336.69 +7.29 (+2.21%)
At 1:59:14 p.m. EDT. Open market.
The Home Hub would be the first new product category for Apple under CEO John Ternus, although the project has been in the works for some time. It could also be a lucrative new revenue stream for the company if it grows.
Current do-it-yourself hub-style solutions require users to mount iPads on their walls to control smart home products or access them through their iPhone.
In addition to the hub, Apple is also rolling out new versions of its Apple TV set-top box and HomePod mini smart speaker. Both devices will look pretty much the same as their existing versions, although they will have more powerful processors to run Siri AI.
According to GurmanApple is seeking to accelerate its product development by slimming down the company through layoffs and other reductions.
Apple is entering a market traditionally dominated by Amazon (AMZN) and Google (GOOG, GOOGL), which have seen early success in the smart home space through their Alexa and Google Assistant platforms, respectively.
The company’s home offerings fall under its Wearables, Home and Accessories segment, which brought in $35.68 billion in 2025, making it Apple’s third-largest segment behind iPhone and Services.
The iPhone, however, remains by far the company’s biggest product, bringing in $209.58 billion of Apple’s $416.16 billion in total revenue last year.
Email Daniel Howley at dhowley@yahoofinance.com. Follow him on @DanielHowley.
Click here for the latest technology news that will impact the stock market
Read the latest financial and business news from Yahoo Finance
Gn headline
