Apple’s (AAPL) yearly product announcement event is becoming less highly anticipated for fans. A week before the iPad refresh announcement, the company posted a sharp drop in device sales. Its ambitious stock buyback worth over $100 billion helps shareholders. However, it takes resources away from research and development.
Apple announced bigger screens for two of its iPad models. The iPad Pro will get a new 11-inch and 13-inch display. Additionally, its screen improves with an Ultra Retina XDR display. Customers may upgrade to get the powerful M4 processor or updates to the Apple Pencil.
The 10th generation iPad budget model will get a price cut. Prices will match that offered by Walmart (WMT).
Unfortunately, Apple’s iPad Pro advertising soured the product launch. The ad faced backlash after it showed a hydraulic press crushing musical instruments and books.
Good or Bad Event?
The product announcement is a non-event for Apple. Consumers are already stretched in buying expensive items. Yet Apple cannot cater its iPads to the budget market without sacrificing its profitability.
Time will tell if Apple fans will upgrade their tablets to get a bigger and better screen. They may find that they are fine with their existing iPhone and Macbook computer devices.
