One long-time Wall Street analyst crunches the numbers on Amazon's valuation and comes up with a shocking new estimate.
(Bloomberg) -- Apple Inc.’s first product unveiling of 2021 will take place on April 20, the company said on Tuesday.The Cupertino, California-based technology giant dubbed the event “Spring Loaded” in a media invitation. Apple plans to unveil a new iPad Pro line as early as this month, Bloomberg News reported recently. The company has also been working on several other products, including an accessory dubbed AirTags for tracking physical devices and new iMac desktops.Due to the Covid-19 pandemic, the event will be online and streamed via Apple’s website. This will be Apple’s fifth virtual keynote, following last year’s developer conference and separate events for the latest Apple Watch, iPhone 12 and first Macs with Apple’s own M1 processors. Apple is holding its second virtual developer conference in early June, the company said last month.Read more: Apple’s Second All-Virtual WWDC Will (Hopefully) Be Its LastThe new iPad Pros will come in the same 11-inch and 12.9 inch screen sizes as the current models, but will add processors on par with the latest Mac chips, a new MiniLED screen on the larger model, updated cameras, and potentially an upgraded connector for faster syncing of data and compatibility with additional external monitors and storage drives.The larger iPad Pro has been facing production issues due to the new screen technology and may initially be in short supply, Bloomberg News recently reported.The iPad generated $8.4 billion in revenue for Apple during the key holiday quarter of 2020, the most since 2014. Sales jumped on demand from people working and studying from home during the pandemic. As employees and students begin returning to offices and schools in coming months, Apple will be betting on the new iPad models to maintain interest in the tablet line.At the event, Apple is also likely to announce the release date of iOS 14.5, an upcoming software update that will introduce new privacy protections for ad tracking across apps and websites. The update has irked companies like Facebook Inc., which has said the changes could hurt its advertising business.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
Siri let the cat out of the bag early, revealing -- before Apple (NASDAQ: AAPL) could -- the date of its next product event, where it is expected to debut the new iPad Pro. Problem is, Apple itself hadn't announced it yet.