Apple Inc. (NYSE: AAPL) is looking for buzz and new revenue. It hopes its new iPad will give it both. It will launch the next generation of the tablet soon, before the anticipated iPhone 16 launch in September.
According to Bloomberg, the new tablet will be released in about a month. There will be two versions: the iPad Pro and the iPad Air. The Pro will get a new OLED display, measuring as much as 12.9 inches in the high-end version. Bloomberg reports, “The move marks an end to the longest stretch without new models in the history of the iPad, which was first introduced by Apple co-founder Steve Jobs in 2010.” Jobs died one year later, and current CEO Tim Cook took over.
The iPad has been a drag on Apple’s earnings recently. Apple’s most recent quarterly report shows iPad revenue dropped from $9.4 billion in the quarter a year ago to $7.0 billion. (Here is how much money Apple makes every minute.)
There are currently five iPad models. The most expensive is the Pro, which has a base price of $799. With upgrades, the price can top $2,400. The least expensive, the Mini, sells for as little as $499.
The new iPad has impressive features. No matter how well it does, there is no denying that most investors will wait for the iPhone 16. If it does not have remarkable upgrades, which will have to include AI features, Apple’s falling stock will probably drop a great deal more.
Take Charge of Your Retirement In Just A Few Minutes (Sponsor)
Retirement planning doesn’t have to feel overwhelming. The key is finding expert guidance—and SmartAsset’s simple quiz makes it easier than ever for you to connect with a vetted financial advisor.
Here’s how it works:
- Answer a Few Simple Questions. Tell us a bit about your goals and preferences—it only takes a few minutes!
- Get Matched with Vetted Advisors Our smart tool matches you with up to three pre-screened, vetted advisors who serve your area and are held to a fiduciary standard to act in your best interests. Click here to begin
- Choose Your Fit Review their profiles, schedule an introductory call (or meet in person), and select the advisor who feel is right for you.
Why wait? Start building the retirement you’ve always dreamed of. Click here to get started today!
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.