Important points
- Apple stock hit a new all-time high in Tuesday trading, hitting $237.49 on the day the tech giant announced the latest version of its iPad Mini.
- The new small tablet will go on sale next week, starting at $499.
- The new iPad Mini is powerful enough to use Apple’s new artificial intelligence (AI) features, available starting this month, and is compatible with the new Apple Pencil Pro.
Apple (AAPL) stock rose on Tuesday, briefly hitting an all-time high as the tech giant announced another new product, the updated iPad Mini.
The latest version of Apple’s smallest tablet will go on sale October 23 and will be available for pre-order starting Tuesday for $499. The new iPad Mini comes in a variety of colors and storage capacities and will be powered by the A17 Pro. This chip was included in the high-end models of last year’s iPhone 15 series.
The A17 Pro chip means the new iPad will be able to use artificial intelligence (AI) features that Apple previously announced. This month’s iPhone 16 launch. The AI features will start rolling out to Apple users later this month via an iOS update, and the new Mini will also be compatible with the latest Apple Pencil Pro announced earlier this year.
Some analysts question slow deployment of AI capabilities
Some analysts say the delayed release of AI features, at least a month after the iPhone 16’s launch, could dampen customer excitement about the new phone and slow sales until the features are released. It is doubtful that this is the case.
“iPad mini has broad user appeal and is built for Apple Intelligence, delivering intelligent new features that are powerful, personal and private,” said Bob, vice president of worldwide product marketing for the company. Borchers said in a press release Tuesday. .
apple stocks closed After hitting an intraday high of $237.49 in early trading on Tuesday, the stock rose 1% to $233.85, surpassing the intraday high of $237.23 set in July. The stock price has increased about 21% since the beginning of 2024.
