Apple announces new lineup of iPads

The Street

TheStreet’s Conway Gittens brings you the biggest news of the day, including what investors are watching and Apple's big announcement about its next line of iPads.

Transcript

00:00I'm Conway Gittins reporting from the New York Stock Exchange.

00:02Here's what we're watching on the street today.

00:04Investors were reluctant to make huge bets on Tuesday

00:08following a string of recent rallies.

00:10The Dow and the S&P 500 settled with modest gains,

00:13while the Nasdaq finished the day with a small loss.

00:16Disney was a big loser of the day.

00:18The company beat expectations thanks to financial progress

00:21at Disney+.

00:23But investors worry the streaming service

00:24faces a rough road ahead as it competes with Netflix.

00:28Apple also made big headlines on Tuesday.

00:31The tech giant debuted a new line of iPads

00:34for the first time in two years.

00:36The star of the show was an artificial intelligence-ready

00:38iPad Pro.

00:40The largest model comes with a $1,300 price tag.

00:43Apple, however, is late to the AI game

00:46compared to others like Microsoft and Google.

00:49Nevertheless, Apple CEO Tim Cook called this, quote,

00:52the biggest day for iPads since its introduction.

00:56The other most significant upgrades

00:57include more powerful chips, better screens,

01:00greater size options, and an upgraded Apple Pencil

01:03that costs $129.

01:05All this while iPads get thinner and lighter.

01:08The smaller iPad Air revealed Tuesday cost $600.

01:13The refresh comes after Apple announced a quarterly drop

01:15in iPad sales of 17% compared to the same period a year ago.

01:20All the new models hit store shelves next week.

01:23That'll do it for your daily briefing from the New York Stock

01:25Exchange.

01:26I'm Conway Giddens with The Street.

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