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Apple (AAPL) Launches iPad Mini & Watch 7 at September Event

Apple AAPL introduced the new iPad mini at its virtual product launch event on Sep 14. The company also launched Apple Watch Series 7 and updates to Fitness+ at the event.

The new iPad mini features a larger 8.3-inch Liquid Retina display and is powered by the new A15 Bionic chip that helps it to deliver 80% faster performance compared to the previous-generation iPad mini.

The new device comprises of a new USB-C port that allows faster connectivity with up to 5 Gbps data transfer. This is 10-times faster than the previous generation and connects to a vast ecosystem of USB-C accessories, including cameras and external storage, and displays up to 4K.

The Center Stage experience on iPad Pro is also now available on the iPad mini. This means users can now enjoy more engaging video calls, driven by an updated Ultra-Wide front camera with a new 12-megapixel sensor.

The new A15 Bionic chip helps iPad Mini deliver an all-day battery life. The 6-core CPU delivers a 40% jump in performance, while the 5-core GPU delivers an 80% leap in graphics performance compared with the previous generation of iPad mini.

Apple Inc. Revenues (TTM)

Apple Inc. revenue-ttm | Apple Inc. Quote


Apple will start shipping iPad mini beginning Sep 24. Wi-Fi models of iPad mini are available at $499 while price of the Wi-Fi + Cellular models starts at $649. The new iPad mini with 64GB and 256GB capacities comes in pink, starlight, purple, and space gray finishes. iPadOS 15 will be available from Sep 20 and ships for free with the new iPad mini.

Apple also launched the ninth-generation iPad that is powered by the A13 Bionic chip and features a 10.2-inch Retina display with True Tone, a 12-megapixel Ultra-Wide front camera with Center Stage, support for Apple Pencil (1st generation) and Smart Keyboard, iPadOS 15, and twice the storage of the previous generation.

Apple has been benefiting from strong demand for iPad, driven by continued adoption of the same by enterprises. In the fiscal third quarter, iPad sales of $7.37 billion climbed 11.9% year over year and accounted for 9% of total sales. The attractive features of the new device are expected to further boost iPad sales in the rest of fiscal 2021.

Apple Watch 7 Features a Larger Display

Apple Watch 7 features an Always-On Retina display with significantly more screen area and thinner borders. Apple Watch Series 7 has roughly 20% more screen area and thinner borders at just 1.7 mm — 40% smaller than those on Apple Watch Series 6.

The Watch Series 7 is the first Apple Watch to have IP6X certification for resistance to dust, and maintains a WR50 water resistance rating. The device offers all-day 18-hour battery life on a single charge, and 33% faster charging compared to Apple Watch Series 6.

Apple Watch’s adoption rate continues to grow rapidly. More than 75% of customers who purchased Apple Watch in the fiscal third quarter were first-time customers. Wearables, Home and Accessories sales increased 36% year over year to $8.78 billion and accounted for 10.8% of total sales in third-quarter fiscal 2021.

Apple’s endeavor to add healthcare features like electrical heart sensor and ECG app, along with Blood Oxygen sensor and app to its smartwatch, has been a game changer. These features are expected to help Apple Watch gain market share amid significant competition from the likes of Garmin GRMN, Alphabet GOOGL, Sony, Xiaomi, Samsung Electronics and Huawei Technologies.

Apple stated that Watch Series 7 will be available later this fall. This Zacks Rank #1 (Strong Buy) company also announced that Apple Fitness+ will introduce guided Meditation, a simple way to practice mindfulness anywhere and anytime, and Pilates, a new low-impact, body-conditioning workout type, on Sep 27. You can see the complete list of today’s Zacks #1 Rank stocks here.

Fitness+, which is fully based on Apple Watch, is also set to introduce Workouts to Get Ready for Snow Season. The service will introduce Group Workouts with SharePlay later this fall.

Fitness+ will be available in 15 new countries with the addition of Austria, Brazil, Colombia, France, Germany, Indonesia, Italy, Malaysia, Mexico, Portugal, Russia, Saudi Arabia, Spain, Switzerland, and the United Arab Emirates.

The extended Fitness+ offering is expected to boost Apple’s competitive position against the likes of Peloton PTON in the near term.

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Apple Inc. (AAPL): Free Stock Analysis Report
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Peloton Interactive, Inc. (PTON): Free Stock Analysis Report
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