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Apple launches new iPad Air models with M2 chi

EditorBrando Bricchi
Published 05/07/2024, 01:14 PM
AAPL
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CUPERTINO, Calif. - Apple Inc (NASDAQ:AAPL). has unveiled two new iPad Air models, including an all-new 13-inch version and a redesigned 11-inch model, both powered by the M2 chip. The announcement, made today, introduces the iPad Air in two sizes for the first time, aiming to enhance versatility and performance for its users.

The new iPad Air models promise improved processing power with the M2 chip, which features a faster CPU and GPU, and a 16-core Neural Engine for advanced artificial intelligence (AI) capabilities. Apple's latest offering also includes a new landscape front-facing Ultra Wide 12MP camera with Center Stage technology, designed to keep users in view during video calls.

In terms of connectivity, the new iPad Air supports Wi-Fi 6E for enhanced performance and cellular models with 5G capabilities, aiming to provide faster data access on the move. The devices also boast all-day battery life, a Liquid Retina display, and compatibility with accessories such as the Apple Pencil Pro and the Magic Keyboard.

The 11-inch iPad Air starts at $599, while the 13-inch model is priced at $799. Both models come in new color finishes, including blue and purple, alongside the existing starlight and space gray. Orders for the new iPad Air can be placed starting today, with availability beginning on Wednesday, May 15.

Apple has emphasized the environmental considerations in the design of the new iPad Air, featuring recycled materials across various components and packaging. This aligns with the company's broader commitment to environmental responsibility.

The launch also coincides with updates to iPadOS 17, which introduces new personalization and productivity features, including an enhanced Lock Screen, interactive widgets, and improvements to the Messages and FaceTime apps.

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The new iPad Air models come with a suite of built-in apps and will support upcoming professional creative apps like Logic Pro for iPad 2 and Final Cut Pro for iPad 2, set to release later this spring.

This announcement is based on a press release statement from Apple Inc. and reflects the company's latest step in advancing its tablet lineup to cater to a diverse range of user needs.

InvestingPro Insights

As Apple Inc. expands its iPad Air lineup with the introduction of new models, the company's financial health and stock performance remain key points of interest for investors. Apple's aggressive share buyback strategy underscores management's confidence in the company's value, aligning with the InvestingPro Tip that highlights management's active role in returning value to shareholders. Additionally, Apple's consistent dividend growth, now for 12 consecutive years, reflects a strong commitment to shareholder returns, a fact that may reassure investors looking for stable income streams.

On the financial front, Apple's current Market Cap stands at an impressive $2.8 trillion USD, as of the last twelve months leading up to Q2 2024. The company's P/E Ratio is at 28.47, suggesting a premium valuation that investors are willing to pay for Apple's earnings. Despite a slight dip in revenue growth by -0.9% in the same period, Apple maintains a robust Gross Profit Margin of 45.59%, indicating efficient cost management and a strong ability to generate profits from its sales.

For those considering adding Apple to their portfolio or seeking to make more informed decisions, there are additional InvestingPro Tips available that delve deeper into the company's financials and market performance. With a total of 16 additional tips, including insights into earnings revisions, valuation multiples, and profitability, investors can access a comprehensive analysis on InvestingPro. Be sure to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, enhancing your investment strategy with expert insights and real-time data.

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This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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