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Apple's (AAPL) New iPad Air Integrated With Ultra-Fast M1 Chip
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Apple (AAPL - Free Report) recently announced the launch of its updated iPad air with the newly designed M1 chip made specifically for Mac. This new inclusion will provide a leap in performance as the newly designed chip is the most powerful chip that Apple has ever created.
The newly designed M1 chip is part of a year-long strategy to shift from Intel (INTC - Free Report) processors to its in-house processors.
Apple has been heavily dependent on Intel for its chips used in the iPad. However, due to the persistent supply chain issues Apple could not meet demand with adequate supply. Apple decided to reduce its dependency on third-party sources and manufacture its own chips to support its different products.
iPad sales of $7.25 billion declined 14.1% year over year in the first quarter of fiscal 2022 and accounted for 5.8% of total sales. Customer demand for iPad Pro was robust in the reported quarter.
The new iPad features 5G connectivity, 8-core GPU and CPU, a 60% performance increase and 2x faster graphics, a 16-core neural engine, a P3 wide color with True Tone, 2x faster USB-C port and 64GB and 256GB storage options.
In the year-to-date period, Apple stock has fallen 11.3% compared with the Zacks Computer-Mini Computers industry’s and the Zacks Computer and Technology sector’s fall of 10.2% and 19.2%, respectively.
Apple’s Focus on 5G Capabilities to Drive Prospects
Apple has been committed to bringing 5G capabilities to its flagship products, which began with the iPhone 12 and continued with the launch of the latest iPad Air.
Apple’s launch of the new 5G-enabled iPads is more of a strategy to leverage 5G connectivity facilities when the technology evolves in the next two years.
The new iPad is targeted at a variety of audiences with different necessities like app developers, photo editors, video creators and even students.
Here are some other top-ranked stocks worth considering in the broader Computer and Technology Sector.
Celestica (CLS - Free Report) shares have gained 3.1% in the year-to-date period against the Zacks Electronics - Manufacturing Services industry’s and the Computer and Technology sector’s decline of 17.9% and 19.2%, respectively.
Advanced Micro Devices (AMD - Free Report) is a Zacks Rank #1 stock.
AMD shares have slumped 26.7% in the year-to-date period compared with the Zacks Electronics - Semiconductors industry’s and the Computer and Technology sector’s decline of 20.8% and 19.2%, respectively.
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Apple's (AAPL) New iPad Air Integrated With Ultra-Fast M1 Chip
Apple (AAPL - Free Report) recently announced the launch of its updated iPad air with the newly designed M1 chip made specifically for Mac. This new inclusion will provide a leap in performance as the newly designed chip is the most powerful chip that Apple has ever created.
The newly designed M1 chip is part of a year-long strategy to shift from Intel (INTC - Free Report) processors to its in-house processors.
Apple has been heavily dependent on Intel for its chips used in the iPad. However, due to the persistent supply chain issues Apple could not meet demand with adequate supply. Apple decided to reduce its dependency on third-party sources and manufacture its own chips to support its different products.
iPad sales of $7.25 billion declined 14.1% year over year in the first quarter of fiscal 2022 and accounted for 5.8% of total sales. Customer demand for iPad Pro was robust in the reported quarter.
The new iPad features 5G connectivity, 8-core GPU and CPU, a 60% performance increase and 2x faster graphics, a 16-core neural engine, a P3 wide color with True Tone, 2x faster USB-C port and 64GB and 256GB storage options.
In the year-to-date period, Apple stock has fallen 11.3% compared with the Zacks Computer-Mini Computers industry’s and the Zacks Computer and Technology sector’s fall of 10.2% and 19.2%, respectively.
Apple Inc. Price and Consensus
Apple Inc. price-consensus-chart | Apple Inc. Quote
Apple’s Focus on 5G Capabilities to Drive Prospects
Apple has been committed to bringing 5G capabilities to its flagship products, which began with the iPhone 12 and continued with the launch of the latest iPad Air.
Apple’s launch of the new 5G-enabled iPads is more of a strategy to leverage 5G connectivity facilities when the technology evolves in the next two years.
The new iPad is targeted at a variety of audiences with different necessities like app developers, photo editors, video creators and even students.
Zacks Rank and Other Stocks to Consider
Apple currently sports a Zacks Rank # 1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Here are some other top-ranked stocks worth considering in the broader Computer and Technology Sector.
Celestica (CLS - Free Report) shares have gained 3.1% in the year-to-date period against the Zacks Electronics - Manufacturing Services industry’s and the Computer and Technology sector’s decline of 17.9% and 19.2%, respectively.
Advanced Micro Devices (AMD - Free Report) is a Zacks Rank #1 stock.
AMD shares have slumped 26.7% in the year-to-date period compared with the Zacks Electronics - Semiconductors industry’s and the Computer and Technology sector’s decline of 20.8% and 19.2%, respectively.