CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:
At its “Scary Fast” virtual event on Halloween eve, AAPL announces three new processors with the M3 chip family (M3, M3 Pro, M3 Max), upgraded 14- and 16-inch MacBook Pro laptops, and a new iMac. The M3 line-up based on 3nm offers considerably faster speeds/greater unified memory (up to 128GB) and better graphics (e.g., ray tracing; up to 2.5x faster GPU rendering). While most upgrades are internal in nature, the new MacBook Pro has an attractive-looking space black color option that should appeal to consumers. The 14-inch MacBook Pro w/M3 starts at $1,599 (M2 Pro version previously started at $1,999), while the 16-inch version has only M3 Pro and M3 Max options. The iMac w/M3 starts at $1,299 and Macs expected in stores 11/7. We think timing of the new Macs will allow AAPL’s Mac segment to return to growth in the Dec-Q (we project +6% growth; Macs about 8% of sales) after 4 straight Qs of Y/Y declines. More importantly, the chips give AAPL a strategic advantage (will be leveraged in iPads/Vision Pro devices).