Apple product enthusiasts are eagerly anticipating the company's upcoming surprises in the announcement on May 7, where significant upgrades to its iPad lineup are expected to be revealed. This event, titled Let Loose, marks the first major update to the iPad series in over 18 months, making it an exciting moment for Apple fans in particular.
It is anticipated that the company will unveil new iPad Pro and iPad Air models featuring M3 or possibly M4 chips, with the iPad Pro expected to introduce an "OLED" display for the first time. The new iPads will come in 11-inch and 12.9-inch sizes to cater to various user preferences. The size of the new iPad Air will match that of the iPad Pro, providing consumers with a larger-screen tablet at an affordable price.
In addition to the new iPads, Apple is expected to announce updated accessories, including the Apple Pencil, which will feature new capabilities. Rumors suggest that the redesigned pencil will include haptic feedback and pressure gestures for quick task performance. An updated Magic Keyboard is also set to debut, functioning as a case for the iPad with a keyboard and trackpad. This new version will be more durable and feature an aluminum body, making the iPad resemble a laptop even more.
Apple's upcoming event coincides with a critical time for the company, which reported a 10 percent decline in iPhone sales for the second financial quarter of 2024, with revenues dropping from $51.33 billion to $45.96 billion year-over-year. Meanwhile, iPad sales decreased by 17 percent compared to last year, falling from $6.67 billion to $5.56 billion. Experts attribute this to the lack of new tablet releases since 2022. However, Apple's services sector, which includes offerings like iCloud, Apple TV+, and Apple Music, saw a 14 percent increase in revenue. This performance exceeded Wall Street expectations, causing the stock to rise more than 6 percent in after-hours trading on May 2.
