Apple's (AAPL) all about the iPhone. That's been the case for quite a while now.
The smartphone's roughly $52 billion in net sales in the last quarter represented 68% of total product sales. The popular iPad tablet came in second, with about $7 billion in net revenue, or just over 9%.
Now, the Cupertino, Calif.-based tech giant appears to be going smaller on both flagship devices, with a new product rollout Monday afternoon. Shareholders stand to gain from this trend, according to Jack Mohr, co-manager of Jim Cramer's Action Alerts PLUS charitable trust.
"Apple is expected to introduce a smaller, new 4-inch iPhone, likely called the 'iPhone SE,' and an updated version of the iPad, which is expected to be similar to the iPad Pro in processing power, but will have a smaller 9.7-inch display," Mohr said in a Monday report.
"The iPhone SE will reportedly look very similar to the iPhone 5, but is supposed to include upgraded internal features, such as a newer chip and a better quality camera. As a reminder, the company is still expected to release the iPhone 7 later this year."
Building out Apple's arsenal in such a way should afford CEO Tim Cook an opportunity to placate many investors who can hardly wait to see the new iPhone 7, expected this fall, Mohr said. (Apple is a holding in the charitable trust portfolio that Jim Cramer co-manages with Mohr.)
Apple's events always garner a lot of media and investor attention, as they often pave the way for the next wave of innovation.
"While we do not expect the iPhone SE to have any major sales impact, we could see an incremental lift and it should provide some positive interest that can help bridge the gap in excitement until the major iPhone 7 launch later this year," Mohr added.
The scaled-down iPad should also help retain and build on users who've grown accustomed to functional tablet features, with the addition of a faster processor and compatibility with the Apple Pencil, he said.
And shareholders can also expect to see new accessories for the Apple Watch, including a variety of new bands and straps.