CUPERTINO, Calif. - Apple Inc (NASDAQ:AAPL). introduced its latest iMac featuring the new M4 chip and Apple Intelligence, promising enhanced performance and AI capabilities in its all-in-one desktop design. The updated iMac, which can be pre-ordered starting today, is said to be up to 1.7 times faster than the previous model with the M1 chip for everyday tasks and up to 2.1 times faster for intensive workflows such as photo editing and gaming.
The new iMac boasts a 24-inch 4.5K Retina display with an optional nano-texture glass to reduce glare, a 12MP Center Stage camera with Desk View, and up to four Thunderbolt 4 ports. Apple has also included color-matched accessories with USB-C ports in the package.
Apple's senior vice president of Hardware Engineering, John Ternus, highlighted the iMac's new features, including the M4 chip's performance, new colors, and the advanced camera system. The company claims that the M4 chip, with its Neural Engine, makes the iMac the world's best all-in-one desktop for AI tasks.
The desktop is available in an array of new colors and comes standard with 16GB of unified memory, configurable up to 32GB. The starting price is set at $1,299, with availability beginning on Friday, November 8.
Apple Intelligence introduces a suite of features for the Mac, such as systemwide Writing Tools, a redesigned Siri, and new creative tools like Image Playground and Genmoji. It also integrates ChatGPT into Siri and Writing Tools, with an emphasis on user privacy through on-device processing and Private Cloud Compute.
The iMac is designed with environmental considerations, featuring recycled materials and meeting Apple's energy efficiency standards. The company is also working towards its goal of removing plastic from its packaging by 2025 and aims to be carbon neutral across its entire carbon footprint by 2030.
This news is based on a press release statement from Apple Inc.
In other recent news, Apple Inc. has launched a new suite of AI features, known as Apple Intelligence, for its iPhone, iPad, and Mac devices. The features aim to simplify and accelerate everyday tasks while prioritizing user privacy. JPMorgan (NYSE:JPM) has reiterated its Overweight rating on Apple's shares, anticipating stronger-than-expected fourth-quarter results and weaker guidance for the first quarter of 2025. The firm also expects the introduction of Apple Intelligence to boost demand and lead to revenue outperformance in the second and third quarters of 2025.
Apple recently secured a victory in a patent case against Masimo (NASDAQ:MASI) Corporation, with a federal jury ruling that Masimo's W1 and Freedom smartwatches, along with their chargers, infringed on two of Apple's design patents. However, the jury determined that Masimo's current smartwatch models do not infringe on Apple's patents.
In other developments, Taiwan's economic growth slowed in the third quarter, with a decrease in domestic investment and consumption. Taiwan Semiconductor Manufacturing Co, a key supplier to companies like Apple, is among those driving the export figures. Lastly, Apple is among the tech giants set to announce their quarterly earnings results soon, which are expected to influence broader market trends.
InvestingPro Insights
As Apple unveils its latest iMac with the M4 chip, it's worth noting some key financial insights that underscore the company's market position and performance. According to InvestingPro data, Apple boasts a substantial market capitalization of $3.55 trillion, reflecting its dominant status in the technology sector.
The company's financial health is further emphasized by its robust revenue of $385.6 billion over the last twelve months as of Q3 2024, with a gross profit margin of 45.96% during the same period. This strong financial performance aligns with Apple's continued innovation in products like the new iMac.
InvestingPro Tips highlight that Apple has raised its dividend for 12 consecutive years, demonstrating a commitment to shareholder returns alongside its product development efforts. Additionally, the company is noted as a prominent player in the Technology Hardware, Storage & Peripherals industry, which is evident in its continuous updates to the iMac line.
It's also worth noting that Apple's stock is trading near its 52-week high, with a significant price uptick of 37.03% over the last six months. This positive market sentiment could be attributed to anticipation surrounding new product launches like the M4-powered iMac and the integration of AI capabilities.
For investors seeking a deeper understanding of Apple's financial landscape, InvestingPro offers 16 additional tips that could provide valuable insights into the company's performance and outlook.
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