Coinspeaker
Apple Preparing for Launch Event, New Macs Expected
Apple Inc (NASDAQ: AAPL) is sending invitations for a launch event that will be streamed on its website on October 30 at 5 p.m. Pacific Time. Dubbed ‘Scary Fast’, the event is expected to be focused on a new line of Mac products. The tagline chosen is not only about the event happening just before Halloween but also because of the enormous speed of the new devices.
The announcement follows Bloomberg‘s report about the company getting ready to launch a new 24-inch iMac. Notably, Apple has not updated the 24-inch iMac since 2021. At the ‘Scary Fast’ event, we might also see the first Macs with updated 3-nanometer M3 chips.
A novel M3 chip that allegedly has such features as 12 CPU cores, 18 graphics cores, and 36GB of memory. Due to TSMC’s newest 3-nanometer chip technology, M3 chips will have a smaller node size, higher transistor density, and up to 35 percent better efficiency. In addition, we could see not just the M3, but also the improved M3 Pro and M3 Max chips.
The following models will probably be presented to the public:
- 13-inch MacBook Pro with M3 chip;
- 24-inch iMac;
- 14-inch MacBook Pro with M3 Pro/Max chips;
- 16-inch MacBook Pro with M3 Pro/Max chips.
According to Apple analyst Ming-Chi Kuo, if Apple comes up with new M3 Macs, their production volume is likely to be low. Previously, he predicted that Apple would not likely introduce new MacBook Pro models this year because of ‘limited 4Q 23 shipments.’ However, now the analyst says the tight supply will last until the first quarter of 2024.
As far as I know, Apple attributes the significant decline in MacBook shipments in 2023 mainly to the limited M2 computing power upgrade. I believe this is why Apple may prefer to launch the M3 series MacBook Pro even when its production volume is still low rather than continue…
— 郭明錤 (Ming-Chi Kuo) (@mingchikuo) October 24, 2023
Apple does not usually disclose which products it is announcing ahead of its launch events. However, the company has historically released new Mac products around this time of year.
The company is also working on other products, but their release is expected to take place in the first quarter of 2024. Among these products are the M3 Mac mini, upgraded 13 and 15-inch MacBook Air models, and Apple Vision Pro headset.
Apple’s Q4 2023 Performance: What to Expect
Notably, the ‘Scary Fast’ event will be held just before Apple’s release of its fourth quarter fiscal 2023 results on November 2. In the previous quarter, Apple reported a total revenue of $81.79 billion, which was a 1% decrease compared to the same period in 2022. For Q4 2023, analysts are predicting a revenue of $89.31 billion and quarterly earnings per share of $1.39. For the full 2023, Wall Street analysts forecast a revenue of $383.56 billion and earnings per share of $6.08.
Speaking of the stock’s performance, Apple shares fell nearly 27% in 2022 amid a broader deflation of the tech industry and recovered in 2023. Year-to-date, Apple is up 33.49%, with two months left to go in the year.
In 2024, Apple stock will definitely hit the market with the launch of the Vision Pro augmented reality headset. The event will be huge for the company, as the headset has the potential to be Apple’s biggest product launch since the iPhone.
