Apple to Unveil New Low-Cost 5G iPhone and iPad in March

To start off the new year well, the iPhone maker Apple Inc. (NASDAQ: AAPL) is set to launch a new low-cost iPhone and an updated iPad in early March, Bloomberg reported.

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Similar to the prior launched products, the company is likely to unveil the product online. The last product launched by Apple was the new MacBook Pro, in October 2021.

Nevertheless, the launch might be delayed due to a delay in the production or some other variables, though an Apple spokeswoman refrained from commenting on the company’s plans.

New Products

The first update to the iPhone SE model in two years will be seen in the new phone, with 5G network capabilities, an improved camera, and a faster processor. However, the design is likely to be similar to the existing one, which was unveiled in April 2020.

Additionally, the new iPad will be the updated version of the Air model featuring a faster processor and 5G. A new Mac with Apple-designed chips is also in the pipeline, expected to debut as early as March.

According to the source, with the launch of new devices, Apple might release the iOS 15.4 update in the first half of March. The software update will include features such as the Face ID support to unlock the device while wearing a mask, along with new emojis and Universal Control through which a single keyboard and trackpad can be used across multiple iPads and Macs.

Following the event in March, the company is expected to announce software updates for the iPhone, iPad, Mac, and Apple Watch at its annual Worldwide Developers Conference in June.

Wall Street’s Take

Recently, Wedbush analyst Daniel Ives maintained a Buy rating and a price target of $200 (16.02% upside potential) on Apple.

Consensus among analysts is a Strong Buy based on 24 Buys and 5 Holds. The average Apple stock forecast price of $192.18 implies 11.48% upside potential from current levels.

Bloggers Weigh In

Bloggers seem enthused about the company’s new products, pre-launch. TipRanks data shows that financial blogger opinions are 87% Bullish on AAPL, compared to a sector average of 68%.

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