Apple to launch new range of Macs in line with AI push: report

By Louis Goss

Apple is reportedly planning to overhaul its Mac computers by fitting them with new state-of-the-art M4 processors, in a bid to boost its dwindling sales and catch up with rivals in the field of artificial intelligence (AI).

Following the launch of its new Mac lines containing M3 chips last November, Apple is now planning to update its range of personal computers again, Bloomberg reported late Thursday, citing sources.

The tech giant's plans are aimed at boosting sales of Mac products, which fell 27% throughout the financial year 2023, after peaking in 2022. Those sales remained almost flat over the Christmas period - at $7.78 billion compared with $7.73 billion a year prior - despite the launch of the M3 product range.

Apple, however, made ground in the first quarter, with Mac shipments up 14.8% over the first three-months of 2024. The first-quarter of 2023, marked the worst in computer sales history overall.

Shares in Apple (AAPL) fell by less than 1% on Friday, a day after marking its biggest single-day gain in 11 months with a rise of 4%. Apple shares are currently down 9% year-to-date, having gained 6% over the past 12 months.

Apple first started using its own M1 processors, which are based on technology designed by ARM Holding (ARM), after switching away from using chips made by Intel (INTC) in November 2020. Since then, it has launched two upgrades, including the M2 in 2022 and the M3 last year.

At the time of its launch last November, Apple said its M3 processor made Macs "faster and more efficient," though critics said the upgraded chips had few major advantages over its predecessor, the M2.

The plans are also aimed at closing the gap between Apple and its main competitors in the field of AI, where it's seen as a straggler compared with tech giants Microsoft (MSFT) and Alphabet (GOOGL). The launch of the M3 chip is part of a wider push to weave AI tools into its systems.

Apple is set outline a raft of new AI-powered features at its developer conference this June, in line with plans to use the faster M4 chips to run those AI tools on devices themselves, instead of on remote servers. Apple is now planning to launch the first Macs with M4 processors by the end of thus year.

Apple was approached by MarketWatch for comment.

Read: Why Apple's doubters might be getting the stock wrong again, according to BofA

-Louis Goss

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04-12-24 0545ET

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