It's been a whirlwind week for Apple Inc. (NASDAQ:AAPL), with news ranging from the highly anticipated iPhone 16 launch to unexpected layoffs. The tech giant is making headlines left, right, and center, and we've got all the juicy details for you.

Apple Boosts iPhone 16 Orders

In anticipation of its AI-equipped iPhone 16 launch, Apple has reportedly increased its orders for the new iPhones by over 10%. The company has directed suppliers to prepare components for roughly 88 to 90 million new iPhones, a significant increase from last year's initial orders for the iPhone 15 series.

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Analyst Predicts iPhone 16's Impact on Apple Stock

Morgan Stanley analyst Erik Woodring has shared his insights on the upcoming iPhone 16 launch, stating that the new iPhone and Apple Intelligence could unlock pent-up demand. He also predicts an acceleration in the iPhone replacement cycle, which he believes is a "key factor" for Apple's stock performance.

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Apple's Glowtime Event

Apple has confirmed its annual iPhone launch event, named "Glowtime," scheduled for Sept. 9. The event is expected to showcase a variety of new products, including the much-anticipated iPhone 16 series.

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Apple Cuts Jobs in Services Division

In an unexpected move, Apple has reportedly laid off about 100 employees from its services division. The layoffs primarily impacted teams responsible for the Apple Books app and Apple Bookstore.

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Wedbush Analyst Foresees 'Historical Period' for Apple

As Apple gears up for its "Glowtime" event, Wedbush analyst Dan Ives predicts a "historical period" for the tech giant, sparked by the launch of the iPhone 16 series.

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• Apple Intelligence Will Play 'Starring Role' In iPhone 16 Launch, Says Analyst

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This story was generated using Benzinga Neuro and edited by Rounak Jain