During its "Let Loose" event on Tuesday, Apple (NASDAQ:AAPL) unveiled a refreshed iPad lineup for the first time in over a year.
The new iPad Pros feature OLED displays and advanced M4 chips, while the updated iPad Airs now come in sizes up to 13 inches.
Among the standout accessories was the Apple Pencil Pro, which features haptic feedback and Find My integration, while the Magic Keyboard adds a function row, enhancing the tablet's laptop-like functionality.
In terms of software, new AI-driven features were announced, alongside the Final Cut Camera app, designed to support multicamera productions.
Commenting on the announcements, Goldman Sachs analysts said the new iPad lineup supports “AAPL’s guidance for F3Q24E iPad revenue of double-digits % yoy growth.”
“iPad channel inventory is clean, helped by efforts to clear channel inventory ahead of these new product launches, which should also help improve revenue trends in Greater China,” they added.
Elsewhere, Wedbush analysts said Apple’s decision to refresh its iPad mix “was a smart move” for the company.
“Overall, Apple unveiled multiple new products in another “flex the muscles moment" for Cook & Co. heading into a robust product cycle in the next 6-9 months led by the iPhone 16 launch this Fall into its golden installed base,” analysts wrote.
According to Morgan Stanley analysts, the reinvigorated iPad lineup “should bring a much-needed shot in the arm to the iPad in the June quarter” after the product witnessed revenue declines in each of the last five quarters.