Apple Inc. expands its iMac and iPad lines with new devices featuring the company’s custom M1 chip.
Apple AAPL,
Tuesday unveiled a new iMac that comes in a variety of bright colors and features Apple’s custom chip, which Apple says keeps the computer cool without loud fan noise. The computer also has a 1080p camera for FaceTime, a new power adapter to reduce desk clutter, and the iMac’s first copy of the TouchID fingerprint sensor for login and purchase.
The device starts at $ 1,299 in four color options and Apple will expand the line with seven colors in its $ 1,499 model that includes more ports and Ethernet connectivity. Both will be available in the second half of May, with preorders starting April 30th.
The company began rolling out Macs with custom chips late last year. While the Mac business had seen essentially flat sales between 2017 and 2019, it witnessed a 2020 revival during the pandemic as people rushed to buy devices that would make remote work and education easier.
The electronics giant states that the custom chip enables performance and other advantages over the Intel Corp. INTC,
chips that Apple previously used in its Mac line, and Chief Executive Tim Cook said of the company’s latest earnings call that the chip gives Apple “a new growth trajectory we haven’t had in the past.”
Apple will also start to include the M1 chip in its new version of the iPad Pro. The chip enables up to 50% faster CPU performance compared to the A12Z Bionic chip and up to 40% better graphics performance, the company said. Mobile iPad Pro models have 5G connectivity.
Apple’s 12.9-inch iPad Pro gets what the company calls a Liquid Retina XDR display, which uses more than 10,000 light-emitting diodes to display better detail even in dark images. The 12.9-inch model starts at $ 1099 for the WiFi version and $ 1299 for the mobile version, while the 11-inch model starts at $ 799 for WiFi and $ 999 for mobile. Both will be available in the second half of May, while Apple will open preorders on April 30th.
The iPad has been another popular category recently, given the boom in remote working. Sales for this segment grew by at least 31% in each of the last three quarters of 2020, and analysts forecast growth of 29% for the March quarter, which Apple will report next week.
Read More: The pandemic may have permanently changed Apple’s path
Apple also released new iPads in September and introduced an eighth-generation iPad, the first of its entry-level tablets with the company’s neural engine. The company also introduced a new iPad Air at the time with improvements in sound and camera quality, with Chief Financial Officer Luca Maestri shouting a “great” reception of the device during Apple’s latest earnings call in January.
Apple’s Tuesday event brought the highly anticipated announcement of AirTag trackers, a new product category. The tags use Apple’s FindMy network to keep track of things by providing visual, haptic and other feedback to help people find their AirTags and attached items. The device costs $ 29, or $ 99 for a pack of four. Availability starts on April 30, but people can book from Friday.
Apple normally keeps its iPhone announcements for fall, although it did announce a new purple color option for the iPhone at Tuesday’s event. The company will also upgrade the Apple TV streaming device by adding an A12 chip and a newly designed remote.
The company also plans to make its Apple Card easier for family members to use together. Spouses and partners will be able to accrue equal credit, which Cook said would make the credit management process more equitable. The company will also allow people to get Apple Cards for family members 13 or older, with the option of spending limits.
Apple is redesigning its podcasts app to make it easier for people to find shows from their favorite creators and sign up for paid plans that can bring benefits such as early access or an ad-free experience. Podcast creators face a similar payment schedule to app developers, with Apple cutting 30% the first year and 15% in subsequent years, with an annual fee of $ 19.99. The new version of the app will be launched in May.
Apple’s spring event precedes its annual WWDC developer conference, which kicks off June 7. That event will include updates for Apple’s various operating systems and maybe some additional product announcements.
Stocks of Apple are up about 1% in the last three months as the Dow Jones Industrial Average DJIA,
which Apple counts as a component is up 8%.