When Apple Inc. (NASDAQ: AAPL) launched what it called its “stunning new iPad,” investors were not impressed. Apple stock remains down 5% this year, while the S&P 500 is up 9%. What happened?
Some aspects of the new iPad might be considered “stunning,” which was Apple’s description. Its new M4 chip is unusually powerful compared to the M2 chip that preceded it. However, how many people need a super-powerful processor in their tablet computers?
The new iPad’s camera is better than the previous one. “The Ultra Wide 12MP camera with Center Stage makes the experience of video conferencing in landscape orientation even better, especially when iPad is attached to a Magic Keyboard or Smart Folio,” Apple commented. What does that even mean?
The display is brighter. But brighter than what? How much better is it than the previous iPad or the ones from Dell, Lenovo, or Samsung? Can a typical tablet user tell? (Check out a ranking of millennials’ favorite consumer electronics brands.)
The real drawback to sales of the new iPad Pro, the line’s flagship, is price. The base model costs $999, but the 13-inch model has a base price of $1,299. More storage can add several hundred dollars, and cellular capacity adds another $200. The new Pencil Pro adds $129. The Magic Keypad adds another $349. Suddenly, the total package is about $2,000.
The new iPad suffers from the same problem as the iPhone 15. It has better features that most people don’t use, and it is also expensive. The competition sells cheaper tablets.
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