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Apple To Hold Virtual 'Spring Loaded' Event On April 20

Apple To Hold Virtual 'Spring Loaded' Event On April 20
  • Apple Inc (NASDAQ: AAPL) will showcase its first product for 2021 on April 20 at the “Spring Loaded” event, which will be streamed online, Bloomberg reports.
  • Apple plans to reveal a new line of iPad Pro as early as April based on a recent Bloomberg report. The company has also been working on multiple other products, including a physical device tracker AirTags, and new iMac desktops.
  • The online event will be streamed via Apple’s website due to the pandemic, marking it Apple’s fifth virtual keynote, following last year’s developer conference and separate events for Apple Watch, iPhone 12, and first Macs with Apple’s M1 processors. Apple will hold its second virtual developer conference in early June.
  • The new iPad Pros will be available in the same 11-inch and 12.9-inch screen sizes with additional processors on par with the latest Mac chips, a new MiniLED screen on the larger model, updated cameras, and possibly an upgraded connector for faster data sync and compatibility with additional external monitors and storage drives, according to Bloomberg.
  • The larger iPad Pro has been facing production issues due to the new screen technology and might face an initial supply crunch based on a recent Bloomberg report.
  • The iPad had earned a revenue of $8.4 billion during the key holiday quarter of 2020, fueled by the pandemic induced remote working and studying.
  • Apple will be betting on the new iPad models to tap the office and school returning employees and students in the coming months.
  • The iPhone maker is also likely to announce the release date of iOS 14.5 to introduce new privacy protections for ad tracking across apps and websites. The update has faced flak from companies like Facebook Inc (Nasdaq: FB).
  • Price action: AAPL shares traded higher by 2.45% at $134.45 on the last check Tuesday.

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