Apple (Nasdaq: AAPL) held its latest Mac Event Online on October 19, 2021 where the company released the latest versions of its newest products including the AirPods, 14 inch and 16 inch MacBook Pros, and new M1 and M1 Max processors.
Here are some of the highlights:
AirPods 3
Apple redesigned the entry-level AirPods so that it looks more like the pro version with a shorter stem and longer battery life. It also has a new design for the ears which can supposedly fit more ears and the audio automatically adjusts based on the dimensions of the listener's ears.
MacBook Pro
MacBook Pros got the biggest refresh in many years with the newest 14 and 16 inch MacBook Pros now running on the new M1 Pro and M1 Max chips which Apply claims is much faster than the current, Intel-based (NASDAQ: INTC) chips. The company is also getting rid of its 'Touch Bar' and adding back an HDMI port, SD card slot, and a MagSafe connector.
Last year's Macs were the first Apple device not running on Intel, which have drawn rave reviews for its speed and power. The chips used in the MacBook Pro are actually more similar to the M1s in the iPhone rather than the Mac.
HomePod Mini
Apple's homepod mini sales have also been strong although much less market share than Google Home (NASDAQ: GOOGL) or Amazon's Alexa (NASDAQ: AMZN). The company didn't change much about the product other than making it available in a variety of colors. The homepod retails at $99.
Apple Music Voice
Apple continues to fight with Google and Amazon in multiple niches. The latest is Apple targeting Amazon's $4 per month music plan by introducing a $5 per month music plan that only works through Siri. The company has also added hundreds of new playlists to compete with Amazon and Spotify (NYSE: SPOT).
Stock Price Outlook
Recently, Apple has been in the news as the company announced that due to supply chain issues and chip shortages, the company's iPhone production would likely be 10 million lower than expected. The news caused shares to drop about 3%, however these losses were quickly recovered in ensuing trading sessions as most investors continue to treat these issues as being temporary rather than permanent.
The next biggest catalyst for its stock will likely be Q3 earnings later this month.