On May 7, 2024, Apple Inc. (NASDAQ:AAPL) announced the launch of its latest iPad models: the iPad Pro equipped with the powerful M4 chip and OLED displays, and the iPad Air now featuring the M2 chip. These introductions mark the first update to the iPad lineup since October 2022, signaling a significant step in Apple’s product evolution, and are expected to improve the revenue mix and drive growth going forward, according to Goldman Sachs. Key Insights from the New iPad Launch Goldman Sachs equity analyst Michael Ng highlighted several critical aspects of the new iPad releases that investors should note: Support for Revenue Growth: “The introduction of the new iPad models aligns with Apple’s forecast for F3Q24E, which anticipates double-digit year-over-year growth in iPad revenue,” Ng stated. This growth is supported by clean iPad channel inventory, thanks to strategic efforts to clear out older models before the new releases. This move is particularly expected to bolster revenue trends in Greater China. Advancements in AI and Processing Power: The new iPad Pro features Apple's latest M4 chip, which is described as “more powerful than any AI PC NPU today.” The M4 chip's Neural Engine can process up to 38 trillion operations per second, outpacing any current AI PC neural processing unit. This ...