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FILE- In this Jan. 3, 2019, file photo the Apple logo is displayed at the Apple store in the Brooklyn borough of New York.  Apple is releasing a new iPhone that will be dramatically cheaper than the models it rolled out last fall at a time when the economy was booming and the coronavirus pandemic wasn’t forcing consumers to cut back on their spending. The second-generation iPhone SE announced Wednesday, April 15, 2020,  will sell for as little as $399. That's a 40% markdown from the most affordable iPhone 11 unveiled last year.(AP Photo/Mary Altaffer, File)

FILE- In this Jan. 3, 2019, file photo the Apple logo is displayed at the Apple store in the Brooklyn borough of New York. Apple is releasing a new iPhone that will be dramatically cheaper than the models it rolled out last fall at a time when the economy was booming and the coronavirus pandemic wasn’t forcing consumers to cut back on their spending. The second-generation iPhone SE announced Wednesday, April 15, 2020, will sell for as little as $399. That's a 40% markdown from the most affordable iPhone 11 unveiled last year.(AP Photo/Mary Altaffer, File)

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