Apple launches new iPad Air with M3 chip at $599

CUPERTINO, Calif. – Apple Inc. (NASDAQ:AAPL), the world’s largest technology company by market capitalization at $3.58 trillion, unveiled its latest iPad Air model equipped with the new M3 chip today, promising nearly double the speed of its M1 predecessor and up to 3.5 times faster performance than the version with the A14 Bionic chip. The company continues to innovate while maintaining strong financial health, earning a "GOOD" rating from InvestingPro’s comprehensive analysis system. The new iPad Air is available in 11-inch and 13-inch sizes, featuring four finishes and starting at the same price as the previous models: $599 for the 11-inch and $799 for the 13-inch.

The M3 chip brings a significant performance boost, with an 8-core CPU that is up to 35% faster and a 9-core GPU offering up to 40% faster graphics performance compared to the M1 chip. This innovation comes as Apple maintains robust financial performance, with annual revenue reaching $395.76 billion and a healthy gross profit margin of 46.52%. This enhancement allows for more sophisticated graphics-intensive tasks and gaming experiences. The device also includes a faster Neural Engine for improved artificial intelligence (AI) capabilities in iPadOS.

Apple’s focus on intelligence features is evident with the integration of Apple Intelligence, which offers tools such as Clean Up in Photos and Image Wand in Notes, designed to enhance creativity and productivity. Users can also type to Siri, which is more conversational and maintains context between requests.

The new iPad Air supports the Magic Keyboard, Apple Pencil Pro, and Apple Pencil (USB-C), and boasts fast wireless 5G connectivity. The Magic Keyboard has been redesigned to be more versatile, with a larger trackpad and a new function row, starting at $269 for the 11-inch model.

In addition to the iPad Air, Apple has updated its standard iPad model, doubling the starting storage and incorporating the A16 chip, leading to a nearly 30% increase in performance over the previous generation. The new iPad starts at $349 for the Wi-Fi model.

Both the iPad Air and the updated iPad are designed with environmental considerations, featuring recycled aluminum enclosures, rare earth elements, cobalt, and lithium, aligning with Apple’s goal to be carbon neutral by 2030.

Pre-orders for the new iPad Air with M3 and the updated iPad with A16 began today, with availability starting on March 12. The information is based on a press release statement from Apple. Currently trading at $238.03, Apple’s stock has delivered a 36.58% return over the past year, though analysis suggests the stock may be trading above its Fair Value. For deeper insights into Apple’s financial health and growth prospects, including 13 additional ProTips and comprehensive valuation metrics, visit InvestingPro.

In other recent news, Apple Inc. has reported a notable increase in its App Store revenue, with a 9% year-over-year rise in February 2025, contributing to a 13% increase for the first quarter. This growth aligns with Goldman Sachs’ forecast and slightly exceeds the wider market’s expectations for Apple’s Services revenue in the second fiscal quarter of 2025. Additionally, Apple’s CEO, Tim Cook, has hinted at an imminent announcement related to the company’s ’Air’ product line, generating interest among users and tech enthusiasts. Meanwhile, Apple is anticipated to face an antitrust fine from the French regulator over its App Tracking Transparency tool, with a decision expected next month. The company is also set to begin selling its iPhone 16 models in Indonesia following agreements with the Indonesian government, including the establishment of a local manufacturing plant. Furthermore, former U.S. President Donald Trump has urged Apple to abolish its diversity, equity, and inclusion rules, despite recent shareholder support for maintaining these policies.

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