Apple Reportedly Readying Faster iPads
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Apple Reportedly Readying Faster iPads

As the work-from-home trend continues around the world.

By Barbara Kollmeyer
Fri, Mar 19, 2021 11:30amGrey Clock < 1 min

Working from home has been an enduring trend from the Covid-19 pandemic and technology giant Apple may be ready to capitalise on that further.

According to a Bloomberg report on Wednesday, the company is aiming to spruce up its current iPad Pro models, with better cameras and faster processors. Those models—11-inch and 12.9-inch—could be making their debut as soon as April, the report said.

A spokesperson from Apple could not immediately be reached for comment.

Newer features may include a Mini-LED screen and faster processors, comparable to the M1 chip powering the newest MacBook Air, MacBook Pro and Mac mini. The company launched that new line of Macs last November, marking the first time the Apple-designed M1 chips were used.

Critics raved about those new MacBooks, saying they outperformed pricier Macs powered by Intel chips.

The work/school-from-home trends emerging from the Covid-19 pandemic have proven lucrative for the company. Apple posted a stunning quarter in late January, with double-digit growth in all of its product categories, including strong iPad sales.

Shares of Apple have struggled alongside tech stocks this year, down around 6% as investors have favoured more value-focused plays, directly tied to an economic recovery. Apple shares gained 80% both last year and in 2019. The stock got a boost earlier this week when Evercore ISI analyst Amit Daryanani told clients that the shares look cheap and lifted his price target to US$175 from US$163.

 

Reprinted by permission of Barron’s. Copyright 2021 Dow Jones & Company. Inc. All Rights Reserved Worldwide. Original date of publication: March 18, 2021.



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China’s economic recovery isn’t gaining the momentum money managers are awaiting.

Data from China Beige Book show that the economic green shoots glimpsed in August didn’t sprout further in September. Job growth and consumer spending faltered, while orders for exports came in at the lowest level since March, according to a monthly flash survey of more than 1,300 companies the independent research firm released Thursday evening.

Consumers’ initial revenge spending after Covid restrictions eased could be waning, the results indicate, with the biggest pullbacks in food and luxury items. While travel remains a bright spot ahead of the country’s Mid-Autumn Festival, hospitality firms and chain restaurants saw a sharp decline in sales, according to the survey.

And although policy makers have shown their willingness to stabilise the property market, the data showed another month of slower sales and lower prices in both the residential and commercial sectors.

Even more troubling are the continued problems at Evergrande Group, which has scuttled a plan to restructure itself, raising the risk of a liquidation that could further destabilise the property market and hit confidence about the economy. The embattled developer said it was notified that the company’s chairman Hui Ka Yan, who is under police watch, is suspected of committing criminal offences.

Nicole Kornitzer, who manages the $750 million Buffalo International Fund (ticker: BUIIX), worries about a “recession of expectations” as confidence continues to take a hit, discouraging people and businesses from spending. Kornitzer has only a fraction of the fund’s assets in China at the moment.

Before allocating more to China, Kornitzer said, she needs to see at least a couple quarters of improvement in spending, with consumption broadening beyond travel and dining out. Signs of stabilisation in the housing market would be encouraging as well, she said.

She isn’t alone in her concern about spending. Vivian Lin Thurston, manager for William Blair’s emerging markets and China strategies, said confidence among both consumers and small- and medium-enterprises is still suffering.

“Everyone is still out and about but they don’t buy as much or buy lower-priced goods so retail sales aren’t recovering as strongly and lower-income consumers are still under pressure because their employment and income aren’t back to pre-COVID levels,” said Thurston, who just returned from a visit to China.

“A lot of small- and medium- enterprises are struggling to stay afloat and are definitely taking a wait-and-see approach on whether they can expand. A lot went out of business during Covid and aren’t back yet. So far the stimulus measures have been anemic.”

Beijing needs to do more, especially to stabilise the property sector, Thurston said. The view on the ground is that more help could come in the fourth quarter—or once the Federal Reserve is done raising rates.

The fact that the Fed is raising rates while Beijing is cutting them is already putting pressure on the renminbi. If policy makers in China wait until the Fed is done, that would alleviate one source of pressure before their fiscal stimulus adds its own.

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