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Apple (AAPL) Rumored to Launch New Powerful iPad Pro This April
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Apple’s (AAPL - Free Report) iPad sales have benefited significantly from the coronavirus-induced lockdowns and shelter-in-place guidelines that forced people to stay at homes. Consequently, work-from-home and online-learning wave, as well as spike in media consumption, drove iPad demand.
In first-quarter fiscal 2021, Apple reported a 41.1% year-over-year jump in iPad sales to $8.44 billion. Per a Bloomberg report, the iPhone-maker now plans to capitalize on the ongoing momentum by launching new iPads as early as April.
Apple is now rumored to launch a refreshed iPad Pro line-up 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 iPad connect to a diverse set of devices including external monitors, hard drives and other peripherals. Thunderbolt port is also faster at syncing data compared to the USB-C used in current models.
However, in terms of look, 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 same design as that of iPad Pro but powered by the A14 Bionic chip in October, 2020.
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 thickness will be “much thinner at 6.3mm and the weight will be reduced to 460g.”
Portfolio Strength to Drive Top-Line Growth
Undoubtedly, Apple has benefited from coronavirus-induced strong sales of iPad and Mac. The company is heavily dependent on its flagship iPhone for growth. Success of the latest iPads and Macs suggests an expanding portfolio that bodes well for growth prospects.
Moreover, Apple continues to dominate the wearables market, courtesy of the latest Apple Watch 6. According to the latest IDC data, global shipments of wearables increased 27.2% year over year to 153.5 million in the fourth quarter of 2020.
Apple’s wearable shipments were the highest at 55.6 million, up 27.2% year over year, driven by strong adoption of Apple Watch Series 6, Watch SE and Series 3. Moreover, market share stayed at 36.2% in fourth-quarter 2020.
The demand for wearables is expected to remain strong in 2021, driven by growing demand for health monitoring and remote work.
Per Gartner’s projections, global user spending on wearable devices will increase 18.1% year over year to $81.5 billion in 2021, driven by strong demand for smartwatches and ear-worn devices.
Apple’s wearables market domination is expected to continue, owing to the strong adoption of Apple Watch. The company is collaborating with leading research institutions to conduct a number of heart health studies
Moreover, the company’s Fitness+ subscription service, built on Apple Watch, is a game changer. Fitness+ tracks health- and workout-related data from Apple Watch that users can view on their iPhones, iPads or Apple TVs.
Additionally, the company is reportedly planning to launch Air Tags or Apple Tags (ultra-wideband trackers), along with a number of products. Other Apple products lined up for 2021 include a new pair of AirPods and silicon Macs.
Apple is also expected to launch its first virtual reality (“VR”) headset in 2022. The iPhone-maker’s entry will intensify competition in the VR device market, which includes devices such as Facebook’s Oculus Quest 2, Sony’s PlayStation VR, Microsoft’s (MSFT - Free Report) Windows Mixed Reality and HTC’s Vive and Vive Pro.
Moreover, this Zacks Rank #2 (Buy) company is reportedly working on augmented reality (“AR”) projects to extend its footprint in the fast-emerging AR market, and is anticipated to release its AR devices by 2023. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Zacks Top 10 Stocks for 2021
In addition to the stocks discussed above, would you like to know about our 10 best buy-and-hold tickers for the entirety of 2021?
Last year's 2020 Zacks Top 10 Stocks portfolio returned gains as high as +386.8%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.
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Apple (AAPL) Rumored to Launch New Powerful iPad Pro This April
Apple’s (AAPL - Free Report) iPad sales have benefited significantly from the coronavirus-induced lockdowns and shelter-in-place guidelines that forced people to stay at homes. Consequently, work-from-home and online-learning wave, as well as spike in media consumption, drove iPad demand.
In first-quarter fiscal 2021, Apple reported a 41.1% year-over-year jump in iPad sales to $8.44 billion. Per a Bloomberg report, the iPhone-maker now plans to capitalize on the ongoing momentum by launching new iPads as early as April.
Apple is now rumored to launch a refreshed iPad Pro line-up 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 iPad connect to a diverse set of devices including external monitors, hard drives and other peripherals. Thunderbolt port is also faster at syncing data compared to the USB-C used in current models.
However, in terms of look, 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.
Apple Inc. Price and Consensus
Apple Inc. price-consensus-chart | Apple Inc. Quote
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 same design as that of iPad Pro but powered by the A14 Bionic chip in October, 2020.
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 thickness will be “much thinner at 6.3mm and the weight will be reduced to 460g.”
Portfolio Strength to Drive Top-Line Growth
Undoubtedly, Apple has benefited from coronavirus-induced strong sales of iPad and Mac. The company is heavily dependent on its flagship iPhone for growth. Success of the latest iPads and Macs suggests an expanding portfolio that bodes well for growth prospects.
Moreover, Apple continues to dominate the wearables market, courtesy of the latest Apple Watch 6. According to the latest IDC data, global shipments of wearables increased 27.2% year over year to 153.5 million in the fourth quarter of 2020.
Apple’s wearable shipments were the highest at 55.6 million, up 27.2% year over year, driven by strong adoption of Apple Watch Series 6, Watch SE and Series 3. Moreover, market share stayed at 36.2% in fourth-quarter 2020.
The demand for wearables is expected to remain strong in 2021, driven by growing demand for health monitoring and remote work.
Per Gartner’s projections, global user spending on wearable devices will increase 18.1% year over year to $81.5 billion in 2021, driven by strong demand for smartwatches and ear-worn devices.
Apple’s wearables market domination is expected to continue, owing to the strong adoption of Apple Watch. The company is collaborating with leading research institutions to conduct a number of heart health studies
Moreover, the company’s Fitness+ subscription service, built on Apple Watch, is a game changer. Fitness+ tracks health- and workout-related data from Apple Watch that users can view on their iPhones, iPads or Apple TVs.
Additionally, the company is reportedly planning to launch Air Tags or Apple Tags (ultra-wideband trackers), along with a number of products. Other Apple products lined up for 2021 include a new pair of AirPods and silicon Macs.
Apple is also expected to launch its first virtual reality (“VR”) headset in 2022. The iPhone-maker’s entry will intensify competition in the VR device market, which includes devices such as Facebook’s Oculus Quest 2, Sony’s PlayStation VR, Microsoft’s (MSFT - Free Report) Windows Mixed Reality and HTC’s Vive and Vive Pro.
Moreover, this Zacks Rank #2 (Buy) company is reportedly working on augmented reality (“AR”) projects to extend its footprint in the fast-emerging AR market, and is anticipated to release its AR devices by 2023. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Zacks Top 10 Stocks for 2021
In addition to the stocks discussed above, would you like to know about our 10 best buy-and-hold tickers for the entirety of 2021?
Last year's 2020 Zacks Top 10 Stocks portfolio returned gains as high as +386.8%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.
Access Zacks Top 10 Stocks for 2021 today >>