After the unveiling of more than 30 iPhone models, millions of people are still tuning in for Apple events.

The company's next big event, dubbed “Wonderlust,” was set to begin livestreaming at 10 a.m. PT/1 p.m. ET Tuesday at apple.com or on the Apple TV app. The company is expected to unveil the latest edition of the iPhone with USB-C charging ports, an Apple Watch with an upgraded processor, operating software updates and more. 

“Apple's iPhone launch event is like the Super Bowl for many consumers every year,” Wedbush Securities technology analyst Dan Ives said in a statement emailed to USA TODAY. “This is a critical iPhone 15 launch that will have the world's attention and every year is front and center for the technology world.”

More than 30 million people watched Apple’s 2022 event on YouTube, and large audiences were expected again this year.

With more than 1.2 billion iPhones sold, Apple products “have become a core part of people's lives around the world,” Ives said. “Many consumers view their priorities as bread, water, family and iPhone.”

History of Apple events

The first iPhone helped redefine the smartphone market and kick-start a period of hypergrowth for Apple. Since its unveiling in January 2007, the company's share price has risen more than 5,000% and the company has found itself among the top revenue-generating companies in the U.S., bringing in more than $394 billion in net sales last year. 

There have been other major announcements since then (Apple unveiled the iPad in 2010, the Apple Watch in 2014 and the AirPods in 2016), but many of the events now lean on updates for current products and software. Still, people tune in.

Part of Apple's success comes from its ability to establish a countercultural brand identity, according to Heidi Campbell, a professor of communication at Texas A&M University whose research focuses on the intersection of digital and mobile media, religion and digital cultures.

“The fan culture around it can keep this narrative going,” Campbell said. Even now that Apple is mainstream, "they still have been able to maintain that alternative, edgy identity, and I think that's why you see people standing around that more so than you do Android devices or PC devices. It's a lifestyle brand."

She referred back to the first iPhone launch in 2007, which received massive fanfare despite glitches that made the product itself “a little disappointing.” 

But “people were so bought into the narrative,” she said. “(It’s) kind of a whole identity rather than a product. And I think if brands are able to do that, the work is done for them in many respects.”

How big is the 2023 Apple Event?

Campbell, who described the Apple events as a sort of "pep rally" in the tech world, said Tuesday’s announcement is important for the company's brand loyalty and identity. 

“(As) for what they’re actually going to share, information-wise? Eh. Probably not as important,” she said.  

That's not to say the event won't be significant for Apple. Bloomberg reported that Tuesday's event is under more pressure than usual after Apple’s sales slid for three consecutive quarters. Investors have also been concerned about reports that China is expanding an iPhone ban to government agencies and state-owned companies. 

But Ives called concerns about China “overblown,” noting that Apple continues to gain share in the region “despite many bears yelling fire in a crowded theater.”

And with an estimated 25% of Apple’s installed base not upgrading their phone in over four years, Ives said he expects the iPhone 15 will benefit from a "mini super cycle event" as people upgrade to the newer model.