Apple's Stock Soars as New iPads and AI Focus Promise Bright Future
May 5, 2024![Apple's Stock Soars as New iPads and AI Focus Promise Bright Future](https://cdn.brief.news/images/stories/137c881b997426e766588e60a6875d3571123921a4edaca6e56f249744b704b7c239e32e1f27becd46cadc42baad19c668d1d4089259570e2f1198dbd5e7e7c3.jpg)
Apple Inc. reported a higher-than-expected quarterly revenue from China, causing an 8% increase in stock value and adding $210 billion in market capitalization.
The company announced a record $110 billion share buyback program and increased its quarterly dividend by 4%.
Apple's upcoming 'Event Let Loose' on May 7th is set to unveil new iPad models, rumored to feature an M4 chip and a redesigned Apple Pencil with haptic feedback.
The 2024 iPad Pro models may include OLED displays, while two new iPad Air models could offer M3 chipset performance, alongside a redesigned Magic Keyboard and an updated Apple Pencil.
CEO Tim Cook emphasizes Apple's focus on artificial intelligence, with new on-device AI features, RCS support, and enhanced capabilities for Siri.
The 'Intelligent Search' feature in Safari will utilize Apple's in-house AI LLMs 'Ajax' for improved on-device processing and cloud-based complex requests.
Bloomberg's Mark Gurman hints at a potential release of the M4 chip by the end of 2024, with an AI-powered M4 iPad Pro possibly launching on May 7th.
The M4 chip is expected to come in three variants and offer significant performance enhancements, particularly in AI features and on-device processing.
Apple aims to rebound in the tablet market after a 17% decline in tablet sales last quarter, with the 'Event Let Loose' playing a pivotal role.
Summary based on 149 sources
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Sources
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IOS 18 tipped to get 3 new AI features, including Siri summarizing your texts![Apple's May 7 iPad event: Last-minute predictions on what to expect](https://cdn.brief.news/images/links/548888030ed40c45db851dca61f97faff54c4df97fa20bccbb5174d808d09f889b4a3ba0c2753acc210e35731fbd821de902f2e8de591266e537f9d3e73f9f6d.png)
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Apple's May 7 iPad event: Last-minute predictions on what to expect