11:55 AM EDT, 05/07/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

AAPL is fully revamping its iPad line-up with a larger 13-inch iPad Air and new M4 chips (from M2) for iPad Pros. The Pros also possess a better Tandem OLED display panel and have better camera features (11-inch at $999, up from $799; 13-inch at $1,299, up from $1,099). The iPad Air devices get the M2 (11-inch $599, 13-inch $799), while AAPL also announced a new Apple Pencil Pro ($129) with haptic feedback and enhanced Magic Keyboard. All devices can be ordered today/available May 15 (storage for Pros start at 256GB/Air at 128GB). We believe the M4 release less than seven months after the M3 (inside Macs) indicates how AAPL is looking to accelerate hardware capabilities to meet potential new AI apps/software capabilities (eyes on WWDC) and points to Mac upgrades with the M4. After a major iPad drought (last refresh in 2022), we think these upgrades, along with better Pro price points, will help drive a return to growth for the category (down five straight quarters, with Y/Y declines in nine of last 10).