Is Apple (AAPL) Set to Launch New iPad Pro at Apr 20 Event?
Apple AAPL is set to host a special event on Apr 20. The company is rumored to unveil iPad Pro in the virtual event, along with providing a glimpse into a host of other products, including AirTags, iMacs and Apple TV.
The rumored iPad Pro line-up is powered by an updated processor similar to its self-designed M1 chip that can be found in the latest MacBook Air, MacBook Pro and Mac mini.
Moreover, Apple is rumored to have tested the upcoming iPads with Thunderbolt port, which can be found in the latest Macs. The new port will help the iPad connect to a diverse set of devices, including external monitors, hard drives and other peripherals. The Thunderbolt port is also faster at syncing data compared to USB-C used in current models.
However, in terms of looks, the new models are expected to be the replica of the current ones, with the same 11-inch and 12.9-inch screen sizes. The larger model is likely to feature a Mini-LED screen.
Markedly, Apple launched the current iPad Pro line-up in March 2020, featuring the A12Z Bionic chip. Moreover, Apple expanded the iPad line-up with the launch of iPad Air, featuring the same design as that of the iPad Pro but powered by the A14 Bionic chip in October 2020.
Apple Inc. Price and Consensus
Apple Inc. price-consensus-chart | Apple Inc. Quote
Apple is also rumored to launch the entry-level iPad with design similar to iPad Air (third generation), per 9TO5 Mac, that cited a report by supply-chain outlet Macotakara. The display size will remain the same as the current iPad at 10.2 inches, but the device will be “much thinner at 6.3mm and the weight will be reduced to 460g.”
Notably, Apple’s iPad sales have benefited significantly from coronavirus-induced lockdowns and shelter-in-place guidelines that forced people to stay at homes. In first-quarter fiscal 2021, Apple reported a 41.1% year-over-year jump in iPad sales to $8.44 billion.
Expanding Portfolio to Boost Prospects
Apple is also speculated to launch Air Tags or Apple Tags (ultra-wideband trackers) this year.
Moreover, this Zacks Rank #3 (Hold) company is expected to launch its first Augmented/Virtual reality (AR/VR) headset in 2022. Per Apple analyst Ming-Chi Kuo, cited by 9TO5 Mac, the Apple AR headset will feature as many as fifteen cameras. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The iPhone-maker’s entry will intensify competition in the AR/VR device market, which includes devices such as Facebook’s FB Oculus Quest 2, Sony’s SNE PlayStation VR, Microsoft’s MSFT Windows Mixed Reality and HTC’s Vive and Vive Pro.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.
See these 7 breakthrough stocks now>>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
To read this article on Zacks.com click here.
Zacks Investment Research
