CUPERTINO, Calif. - Apple Inc (NASDAQ:AAPL). introduced the latest iteration of its iPad Pro, featuring a new Ultra Retina XDR display and the M4 chip, marking a significant update to its high-end tablet line. The new iPad Pro is available in two sizes, 11-inch and 13-inch, and comes in silver and space black with a design that Apple claims to be the thinnest in its product range.
The new Ultra Retina XDR display utilizes tandem OLED technology to achieve exceptional brightness and contrast. The M4 chip, built on 3-nanometer technology, powers the device, offering substantial performance improvements over the previous generation. Apple's press release states that the CPU performance is up to 1.5 times faster than the M2 chip, with a 10-core GPU that supports features like ray tracing for the first time on an iPad.
Additionally, the new iPad Pro boasts Apple's most powerful Neural Engine to date, capable of 38 trillion operations per second, which Apple suggests makes the device extremely potent for artificial intelligence applications. The updated camera system and the move of the TrueDepth camera to a landscape orientation are designed to enhance the user experience for photography and video conferencing.
The company also announced new accessories, including the Apple Pencil Pro with additional interaction capabilities and a new Magic Keyboard that mirrors the experience of using a MacBook. These accessories are intended to enhance the versatility and functionality of the iPad Pro.
The iPad Pro supports Wi-Fi 6E and 5G connectivity, and the USB-C connector provides fast wired connections and compatibility with a range of high-performance accessories. For the environmentally conscious, the iPad Pro is designed with recycled materials and aims to meet Apple's energy efficiency standards.
The new iPad Pro is available for order starting today, with in-store availability beginning Wednesday, May 15. The 11-inch model starts at $999 for the Wi-Fi version, and the 13-inch model starts at $1,299. Apple also introduced Logic Pro for iPad 2 and Final Cut Pro for iPad 2, which will be available later this spring, enhancing creative capabilities for users.
This announcement is based on a press release statement from Apple Inc.
InvestingPro Insights
As Apple Inc. launches its latest iPad Pro, the company's financial health and stock performance remain critical for investors. With a market capitalization of approximately $2.8 trillion and a P/E ratio of 28.47, Apple stands as a behemoth in the tech industry. The company's commitment to innovation is reflected in its aggressive share buyback program, which is a positive signal for shareholders. This is one of the key InvestingPro Tips for AAPL, indicating management's confidence in the company's value.
Another notable InvestingPro Tip is Apple's track record of raising its dividend for 13 consecutive years, showcasing its ability to generate consistent cash flows and return value to shareholders. Additionally, the company's dividend yield as of the latest data stands at 0.53%, with a 4.35% dividend growth in the last twelve months.
Investors should also be aware that Apple's revenue has seen a slight decline of 0.9% over the last twelve months as of Q2 2024, which could be a point of consideration when assessing the company's growth trajectory. However, Apple's robust gross profit margin of 45.59% demonstrates its ability to maintain profitability despite revenue fluctuations.
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