Apple (AAPL) on Tuesday rounded out its lineup of holiday products with new iPads and an upgraded Apple TV streaming video box. Apple stock rose on the news.
XThe Cupertino, Calif.-based company introduced its 10th-generation iPad tablets with a faster processor and updated cameras and other components. The new iPads come in four colors: blue, pink, yellow and silver. The tablets will be available on Oct. 26 and start at $449.
The new iPads have a 10.9-inch screen, compared with the 10.2-inch screen of the ninth-generation tablets. The 10th-generation iPad uses Apple's A14 Bionic chip, which delivers a 20% increase in processing and 10% improvement in graphics over the prior generation.
Apple also unveiled a next-generation iPad Pro tablet. The high-end tablet sports Apple's M2 chip, which is 15% faster than the M1 processor. The new iPad Pro starts at $799 for the 11-inch model and $1,099 for the 12.9-inch model. Like the new regular iPads, they will be available on Oct. 26.
Apple Stock Climbs After Product Reveals
Plus, Apple debuted its next-generation set-top box for streaming video. Powered by the company's A15 Bionic chip, the new Apple TV 4K delivers faster performance and more fluid gameplay. The device also can act as a smart-home hub.
The latest Apple TV 4K starts at $129 with availability beginning Nov. 4. That's a price cut from the previous model, which cost $149.
On the stock market today, Apple stock climbed 0.9% to close at 143.75.
On Sept. 7, Apple updated its lineup of smartphones and wearables ahead of the holiday season. It introduced its iPhone 14 handsets, Apple Watch Series 8 smartwatches, and second-generation AirPods Pro wireless earbuds.
On Tuesday, Bernstein analyst Toni Sacconaghi reiterated his market perform, or neutral, rating on Apple stock. But he kept his price target of 170.
"We see the risk-reward on Apple stock as neutral to modestly negative over the next three to six months," Sacconaghi said in a note to clients. He said Apple's sales could suffer in the difficult macroeconomic climate.
Follow Patrick Seitz on Twitter at @IBD_PSeitz for more stories on consumer technology, software and semiconductor stocks.
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