iOS 18: The Expected Release of Apple’s ‘Biggest’ iPhone Update Ever

Apple is placing significant expectations on its upcoming iPhone software, iOS 18. Packed with a range of redesigns and enhancements, it introduces features such as live transcriptions of Voice Notes and the highly anticipated Apple Intelligence.

Touted as the most substantial update in the history of iOS, this software release is expected to not only capture attention but also drive sales for the iPhone 16 series.

Here’s a look at when you can expect it to become available.

Apple iOS 18: Arriving Soon

If your iPhone is compatible with iOS 17, it will also support iOS 18, although some of the more advanced features will be reserved for newer models. Apple Intelligence, in particular, will be exclusive to this year’s iPhones, including the iPhone 15 Pro and iPhone 15 Pro Max.

Developer Beta and Public Beta Availability

For developers, iOS 18 is already available for testing, along with iOS 18.1, which runs concurrently (yes, it can be confusing). iOS 18.1 includes the initial preview of Apple Intelligence, and developers can now explore the fifth beta of iOS 18 and the first of iOS 18.1.

For the general public, the third beta version of iOS 18 is accessible, which corresponds with developer beta 5. It’s advisable to avoid installing the public beta on your primary device, as betas often lead to quicker battery drain and may cause compatibility issues with some apps. To install, visit beta.apple.com, accept the terms, and then enable the public beta option in your iPhone’s settings.

When Will iOS 18 Be Officially Released?

The key question on everyone’s mind is when the final version of iOS 18 will be released. While some details are still uncertain, we can make some educated guesses.

Since the iPhone 5, all iPhones have launched in September, with the exception of 2020, when COVID-related delays pushed the release to October. The iPhone 16 series will come with iOS 18 pre-installed, indicating that the general release will likely be in September.

The next important piece of information is the iPhone 16’s release date, which I believe will be Friday, September 20. You can find more details on why I predict this date, including the anticipated keynote announcement, event timing, and pre-order start dates.

For the past three years, Apple has released the new iOS version five days before the new iPhone hits the market. This pattern suggests that Monday, September 16, will be the day iOS 18 is made available to everyone. Be sure to mark your calendar!

Market Insights: Exploring the Value of Price-to-Sales Ratios

Bargain hunters should look beyond the basic price-to-earnings (P/E) ratio and consider its lesser-known counterpart, the price-to-sales (PSR) ratio, which focuses on revenue generation.

While knowing a stock’s earnings per share is valuable, understanding its sales per share can provide additional insights. The PSR metric should be considered alongside P/E when evaluating stocks.

Earnings are critical for generating dividends, but sales offer a glimpse into potential future earnings. The PSR is based on the idea that profit margins often revert to the mean. High-margin companies may face increased competition that erodes their profits, while low-margin companies may improve their profitability over time. This dynamic suggests that low-margin companies trading at low PSRs could be undervalued bargains, while high-margin companies with high PSRs might be at risk of a correction.

For example, Trex, known for its eco-friendly products like deck boards made from recycled materials, is valued at nearly seven times its revenue. Meanwhile, Jeld-Wen, which focuses on traditional millwork, is valued at half of its revenue. If both companies experience similar sales growth and Trex’s appeal wanes while Jeld-Wen improves its profit margin, Jeld-Wen could outperform Trex in the stock market.

A more striking comparison is between Tesla, valued at 649% of its trailing 12-month revenue, and Stellantis, which is valued at just 22% and remains focused on internal combustion engines. A regression to the mean is possible, with Tesla potentially facing increased competition from China and the possibility that buyers may shift their preference to the all-electric 2025 Ram.

The relationship between P/E and PSR is straightforward: multiply a company’s P/E by its net profit margin to get the PSR. For example, a stock priced at $45 with $60 in sales per share and a 5% profit margin would have earnings per share of $3 and a P/E of 15. Multiplying 15 by 5% yields a PSR of 0.75, or 75%.

The accompanying tables showcase companies with notably high or low PSRs. The calculations adjust the basic PSR by using enterprise value (market cap plus net debt) instead of market capitalization alone and by comparing companies to their industry median PSR, providing a more accurate measure of value.

Though industry classifications can be overly simplistic, the industry-adjusted PSRs offer better insights into outliers. Companies with PSRs significantly above or below their industry peers may be poised for a shift toward the mean, either boosting the value of the cheaper companies or bringing down the pricier ones.

One investor who successfully leveraged the PSR is Kenneth Fisher, who gained recognition 40 years ago as a money manager advocating for PSRs in conjunction with traditional stock analysis. This approach led to a long-running Forbes column and a growing client base. Today, Fisher oversees $276 billion in assets and is valued at $11 billion on Forbes’ list of the Wealthiest Americans.