Hello everyone. Today's update will be dedicated to discussing Apple's iPad event. We will circle back to a few final things about Apple's 2Q24 earnings (and Warren Buffett news) tomorrow.

The iPad Event

Yesterday’s iPad event consisted of a 38-minute taped presentation similar in style to what Apple has been producing since the pandemic. I attended a small gathering that Apple held where the presentation was shown. Afterwards, a hands-on demo area allowed guests to try out the new products.

The announcements were grouped into five buckets:

Updated iPad Air (the big news being the Air will come in two sizes for the first time - 11-inch and 13-inch).
Updated iPad Pro (all-new thin design including an Ultra Retina XDR Display).
M4 chip unveiling (the M4 is the first chip relying on second-gen 3nm process tech).
All-new $129 Apple Pencil Pro.
Updates (with various "AI" features) to Logic Pro and Final Cut Pro. Many of the features demoed were impressive.

Tim Cook kicked off the presentation by

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Hello everyone. We will begin today’s update with some words on Apple’s upcoming product event. The discussion will then turn to Apple Vision Pro.

Apple Announces May Product Event

Yesterday, Apple sent out invites to a product event taking place virtually on May 7th.

Based on the event invite artwork, it’s safe to say we are going to see a new Apple Pencil and some iPad updates. Rumors point to Apple updating the iPad Pro and iPad Air segments of the iPad line.

Tim Cook’s tweet about the event hints at an Apple Pencil update.

Last October, Apple unveiled an Apple Pencil with a USB-C charging port which had fewer features than the Apple Pencil (2nd gen). Apple didn’t call the new pencil Apple Pencil (3rd gen). Instead, it’s Apple Pencil (USB-C). This would suggest that we may see a true 3rd gen Apple Pencil next month. For much more on Apple Pencil strategy, check out the October 17th update where we take a deep dive into all things Apple Pencil.

Taking a step back, expectations for this

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