Apple stock rises on report of smart home hub launch

Apple shares gained in early trading on Wednesday, September 30, 2026. The move followed a report from Bloomberg's Mark Gurman stating that the company plans to hold an event next month to present its push into smart home hardware.

The reported headline product is an all-new smart home hub designed to control connected devices, display calendars, manage reminders, play music, and handle video calls. The device can mount on a wall or rest on a counter stand. It relies on voice or facial recognition to identify users and provide customized content, while integrating Apple's Siri AI platform that entered beta testing earlier this month. Apple is also developing an alternative version equipped with a robotic arm that allows the display to rotate 360 degrees.

The hub represents the first new product category introduced under CEO John Ternus. The product rollout also includes updated versions of the Apple TV set-top box and HomePod mini smart speaker, both maintaining familiar designs while adding faster processors to handle Siri AI. Gurman reported that Apple aims to accelerate development through company-wide staffing cuts and operational streamlining as it competes against established smart home ecosystems from Amazon and Alphabet's Google.

The devices will join the Wearables, Home, and Accessories division, which generated $35.68 billion in revenue in 2025 as Apple's third-largest business unit behind the iPhone and Services. The iPhone remained the company's primary sales driver, contributing $209.58 billion of Apple's $416.16 billion in total revenue last year.