Apple
announced its latest line of processors known as M3 on Monday night, during a unique but brief primetime announcement.
The third-generation of the company’s system-on-a-chip processor will debut in updated models of the company’s MacBook Pro laptops.
The chip will come in three versions: the M3, M3 Pro, and M3 Max.
Apple
(ticker: AAPL) said the chips will be the first PC processors to be produced at 3 nanometer line widths. The company said the new chips are between 40% and 80% faster than comparable chips in the original M1 processor series.
Along with the chips, Apple also announced an updated MacBook Pro family of laptops, with new models using each of the three new chips. The company made a point of suggesting how much better the performance of these laptops are than the company’s old Intel-based models—a push to encourage a faster refresh of the installed hardware base.
The 14-inch MacBook Pro will start at $1,599, down from a base price of $1,999. The 16-inch laptops will start at $2,499, consistent with the previous generation. Apple is taking orders immediately on the new laptops, with shipments starting next week for base level and Pro M3s, and later in the month for M3 Max models.
The company also announced an update to the 24-inch iMac desktop computers that use the new processors. The new iMacs start at $1,299, with orders open today, and delivery starting next week.
Apple made the announcements at a virtual-only event on Monday evening called “Scary Fast,” which was widely expected to focus on updates to the company’s Mac personal computer lineup.
The Mac announcements come three days ahead of the company’s fiscal fourth-quarter earnings announcement, due after the close of trading on Thursday. The results are expected to mark the company’s fourth consecutive quarter of year-over-year revenue declines. Investors will be focused in particular on the progress of Apple’s recently launched iPhone 15, along with hints about the outlook for the holiday selling season.
On Monday, Apple shares rose 1.2%, to $170.29. The stock is 14% below its all-time intraday peak earlier in the year.
Write to Eric J. Savitz at [email protected] and Adam Clark at [email protected]
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