By
Godfrey Benjamin
March 22nd, 2024
The new models will have a design similar to the current iPad Pros. The new features will include improved cameras, a faster processor, and a new type of Mini-LED display.
Apple Inc (NYSE: AAPL) is reportedly planning to launch a new iPad series in April. The new iPad will be a kind of a refresh to the iPad Pro line that has proved to be excellent-performing devices worth buying. The new features will include an updated processor and improved cameras.
While the tech giant is nearing a release, its stock is falling a little short of expectations. Yesterday, it closed 0.65% down at $124.76 per share. After hours, it rose by 0.15% to $124.95.
Apple iPad Series 2021: Details
According to those familiar with the matter, the new models will have a design similar to the current iPad Pros. They will also come in the same 11-inch and 12.9-inch screen sizes. However, there will be a number of new features such as improved cameras, a faster processor, and a new type of Mini-LED display. Specifically, the new iPad Pro 2021 will be powered by Apple’s in-house M1 chip and have a Thunderbolt port. The latest provides high-speed connections to devices like external monitors, storage systems, and multiport docks. Previously, Thunderbolt port arrived in Apple Macs and premium Windows machines. But now, its use is spreading.
With a Thunderbolt port, it would be easier to use the new USB 4 that has better speed and flexibility by incorporating Thunderbolt technology. With Thunderbolt technology built-in, device producers can offer Thunderbolt support as long as they pass necessary certification tests. Apple’s first USB 4 support arrived with its M1-powered Macs.
Further, iPad Pro 2021 will feature mini-LED technology that will deliver superior contrast ratios, black levels, and higher brightness. It will also allow avoiding problems like burn-in that can arise with OLED.
The new iPad will also support 5G capabilities to allow users to take advantage of the faster network data services.
As for the pricing of the new line, it is expected to start at around $750-$800.
Apple Stock Performance
In February, Apple stock was moving sideways and is now down over 10%. However, it does not undermine Wall Street’s optimism about AAPL shares. For example, Wedbush Analyst Daniel Ives has given an outperforming rating for AAPL stock. As we have reported, Ives believes that Apple stock can touch a price of $175 with its bull base prediction going all the way to $225. Besides, he predicts a massive 86% growth in Apple stock and says the company stands god chances of hitting a $3 trillion market cap this year.
Currently, the AAPL market cap totals $2.11 trillion. Year-to-date, Apple stock is 5.98% down.