Apple To Hold Product Launch On April 20th

Technology giant Apple (NASDAQ:AAPL) will hold its first new product launch of 2021 on April 20.

The Cupertino, California-based company is calling the product unveiling "Spring Loaded." Apple is expected to unveil a new iPad Pro line, as well as a new accessory dubbed "AirTags" for tracking physical devices and new iMac desktop computers.

Due to the COVID-19 pandemic, the event will be online and streamed via Apple’s website. This will be Apple’s fifth virtual product launch, 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.

The 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 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. The iPad generated $8.4 billion U.S. in revenue for Apple during the final quarter of 2020, the most since 2014. Sales jumped on demand from people working and studying from home during the global pandemic.

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 advertising tracking across apps and websites. The update has irked companies such as Facebook, which has said the changes could hurt its own advertising business.