Consumer technology giant Apple (AAPL) has introduced new MacBook Pro laptop computers that have faster processors and compatibility with the company’s artificial intelligence (AI) functions.
The new MacBooks come with Apple’s most powerful microchip, the M4. Higher end models boast more powerful versions of the chip, known as the M4 Pro and M4 Max processors. Apple said the new chips are 1.8 times faster than its M1 chip that powered the company’s previous MacBook Pro laptops that were released in 2021.
In unveiling the new MacBook computers, Apple emphasized that the company has made changes to ensure the laptops can run its AI features, referred to as “Apple Intelligence.” The company said that the new MacBooks have been designed for compatibility with Apple’s AI system that can generate text, images and emojis. Apple added that the new MacBook Pros can get up to 24 hours of battery life.
Improved Memory
The new MacBook Pro models also come with at least 16GB of RAM, or memory. Previous MacBooks came with 8GB of RAM by default. The additional memory will allow the computers to manage big, advanced AI models, said Apple. The 16GB of RAM also applies to Apple’s MacBook Air laptops.
These are the most significant changes to Apple’s line-up of MacBooks since 2021, when the laptops were redesigned to give them HDMI ports for connecting to TV screens and projectors. At that time, Apple switched from using Intel (INTC) microchips in the MacBooks to its own M-series of processors.
Cost and Sales
The new MacBooks will be widely available for consumers to buy beginning on November 8. Apple said that the 14-inch MacBook will have a starting price of $1,599 and the larger 16-inch model will start at $2,499. The 14-inch model with the more powerful M4 Pro chip will start at $1,999.
The MacBooks are one of several new devices that Apple has released ahead of the year-end holidays, when it hopes to boost sales. Earlier this week, the company unveiled new Mac Mini and iMac desktop computers. In this year’s second quarter, Apple reported $7 billion in Mac sales, up 2% from a year earlier.
Apple is scheduled to report its third-quarter financial results on October 31. AAPL stock has risen 20% this year.
Is AAPL Stock a Buy?
Apple stock has a consensus Moderate Buy rating among 33 Wall Street analysts. That rating is based on 23 Buy, eight Hold and two Sell recommendations made in the last three months. The average AAPL price target of $247.32 implies 6.83% upside from current levels.
