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Is Apple (AAPL) Set to Launch New iPad Pro at Apr 20 Event?

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Zacks Equity Research
·3 min read
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Apple AAPL is set to host a special event on Apr 20. The company is rumored to unveil iPad Pro in the virtual event, along with providing a glimpse into a host of other products, including AirTags, iMacs and Apple TV.

The rumored iPad Pro line-up is 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 the iPad connect to a diverse set of devices, including external monitors, hard drives and other peripherals. The Thunderbolt port is also faster at syncing data compared to USB-C used in current models.

However, in terms of looks, 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 the same design as that of the iPad Pro but powered by the A14 Bionic chip in October 2020.

Apple Inc. Price and Consensus

Apple Inc. Price and Consensus
Apple Inc. Price and Consensus

Apple Inc. price-consensus-chart | Apple Inc. Quote

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 device will be “much thinner at 6.3mm and the weight will be reduced to 460g.”

Notably, Apple’s iPad sales have benefited significantly from coronavirus-induced lockdowns and shelter-in-place guidelines that forced people to stay at homes. In first-quarter fiscal 2021, Apple reported a 41.1% year-over-year jump in iPad sales to $8.44 billion.

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Apple is also speculated to launch Air Tags or Apple Tags (ultra-wideband trackers) this year.

Moreover, this Zacks Rank #3 (Hold) company is expected to launch its first Augmented/Virtual reality (AR/VR) headset in 2022. Per Apple analyst Ming-Chi Kuo, cited by 9TO5 Mac, the Apple AR headset will feature as many as fifteen cameras. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

The iPhone-maker’s entry will intensify competition in the AR/VR device market, which includes devices such as Facebook’s FB Oculus Quest 2, Sony’s SNE PlayStation VR, Microsoft’s MSFT Windows Mixed Reality and HTC’s Vive and Vive Pro.

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