India, Feb. 13 -- Apple will launch a new product on February 19, CEO Tim Cook announced on X, teasing the arrival of what he described as the "newest member of the family." In a post on the X social network, Cook shared a brief animation of a metallic Apple logo with the cryptic message, which caused a surge in Apple's stock price, rising as much as 2% on Thursday.

While Cook offered few details, speculation about the nature of the product has been building. Bloomberg News reported last week that Apple is preparing to release a new, low-end iPhone this month, likely replacing the current iPhone SE - the company's entry-level model. Apple retail stores are already running low on stock of the iPhone SE, fueling expectations that the new d...