Dow Jones Surges 300 Points as Apple iPhone Event Approaches, Cisco Stock Shakes Off Downgrade

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A winter wave of COVID-19 may be brewing in the U.S., with many states reporting distinct increases in confirmed cases. More economic stimulus may be necessary if the pandemic worsens from here, but Congress remains deadlocked on the issue. Despite all of this, the stock market was surging on Monday, with the Dow Jones Industrial Average (DJINDICES:^DJI) up 1.05% at 1:05 p.m. EDT.

Tech giant Apple (NASDAQ:AAPL) was the Dow’s top performer on Monday, rallying hard one day before the company is expected to announce iPhones that feature 5G technology. Shares of Cisco Systems (NASDAQ:CSCO) were also higher despite an analyst downgrade.

5G text over earth.

Image source: Getty Images.

Apple surges ahead of iPhone event

If 2020 were a normal year, Apple’s latest iPhones would have likely already launched. But supply chain disruptions due to the COVID-19 pandemic forced Apple to delay the launch by a few weeks. At an event in September, Apple unveiled new Apple Watches, iPads, and subscription services, but the iPhone was absent.

The story changes tomorrow when Apple is expected to announce its iPhone 12 lineup at an event scheduled for 10 a.m. PDT. While nothing has been confirmed about the devices so far, the new iPhones are expected to sport a new form factor, multiple display size options, and 5G connectivity.

The support for 5G may be enough to spur elevated upgrade activity from those with older iPhones, but the jury is still out on how much consumers really care about the latest wireless technology. Apple has seen strong sales of iPhones during the pandemic, partly due to the launch of the affordable iPhone SE, and partly due to economic stimulus. Whether full-priced iPhones sell as well absent additional stimulus is an open question.

Apple stock was soaring on Monday as investors looked ahead to the iPhone

Why iPhone Users Won’t Be Able To Downgrade To iOS 14 Anymore

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KEY POINTS

  • Apple stopped signing iOS 14 on Thursday, Oct. 1
  • This came a week after Apple released iOS 14.0.1 for iPhones
  • The new version brings fixes to some issues found in iOS 14

The iPhone users who upgraded their Apple smartphones to the latest iOS version, iOS 14.0.1, will no longer be able to downgrade to the base iOS 14 version anymore. This is because Apple has stopped signing it.

The Cupertino tech giant stopped signing iOS 14 on Thursday, Oct. 1, effectively preventing iOS 14.0.1 users from downgrading to the older, but also recently released, version. Apple made the move a week after releasing the latest iPhone operating system version.

The new iOS 14.0.1 update, which was released on Sept. 24, brings several fixes to some problems that users experienced in iOS 14. The fixes include the following, per the release notes:

  • Fixes for an issue that resets default browser and mail settings every time the iPhone is restarted

While Apple started allowing users to change their default browser and mail apps in iOS 14, a bug that caused the system to reset the settings existed, forcing users to either avoid restarting their handsets or change the default apps frequently. The new iOS version fixes the problem.

  • Fixes issues for camera previews on the iPhone 7 and iPhone 7 Plus

The older iOS version had an issue that prevented camera previews from being shown on the iPhone 7 and iPhone 7 Plus. The new iOS version no longer has this problem.

  • Fixes issues regarding Wi-Fi connections

The new iOS 14.0.1 fixes issues that prevent the iPhone from connecting to Wi-Fi networks.

  • Fixes for email sending issues

The new iOS version fixes an issue that prevented users from sending emails. The issue affected some email providers.

  • Fixes for an