At its “Spring Loaded” event tomorrow, April 20, Apple (AAPL) is expected to announce changes to its 11-inch and 12.9-inch iPad Pro models. Analysts expect that both models will include Apple’s new A14X chip and that the high-end iPad will come with a mini-LED display.
In a research note Wedbush analyst Dan Ives wrote that a mini-LED display, “will be a game changer around color performance, dimming capabilities, and high contrast capabilities for the consumer.” Apple’s iPad segment faces tough comparisons for the second half of the 2021 fiscal year. Work-from-home and at-home education drove double-digit iPad growth in the second half of last year.
Ives estimates that about 40% of iPad users have upgraded their iPad devices in the past year, but new models could drive more users to upgrade.
At the event Apple is likely to give some hints around the new AirPods 3, which are expected to be launched in a separate virtual launch in the early summer time frame. AirPods also saw strong sales during the pandemic.
Apple shares closed up 0.51% today to $134.84. Apple is now up 1.26% for 2021 to date and 88.33% for the last year.
The stock is a member of my long-term 50 Stocks Portfolio. The shares are up 411.92% since I added them to that portfolio on November 8, 2016.