New iPads or Not? iPad Revenue Predicted to Sharply Drop in Q4 2023
Apple's quarterly iPad revenue will significantly decline in the fourth quarter of 2023 on a year-over-year basis, according to estimated figures shared today by Erik Woodring, an analyst at investment firm Morgan Stanley.
Morgan Stanley estimates that Apple will report iPad revenue of $7.2 billion in the fourth quarter of 2023, which would be a decline of approximately 23% compared to the $9.4 billion that Apple reported for the segment in the year-ago quarter.
The year-ago quarter will be a tough comparison for iPad revenue, according to Morgan Stanley, as Apple announced updated iPad Pro models and the 10th-generation iPad last October. Over the weekend, two reports indicated that Apple plans to announce updated iPad Air, iPad mini, and entry-level iPad models this week, although some credible sources like Bloomberg's Mark Gurman have cast doubt on this rumor.
It's unclear if Morgan Stanley expects new iPads to launch this month, but given the firm expects iPad revenue to significantly decline this quarter, the firm is at least not expecting any iPad updates that are major enough for revenue growth. Only minor changes are expected for the next iPad Air, iPad mini, and entry-level iPad whenever the devices are released, including an M2 chip for the iPad Air and an A16 Bionic chip for the iPad mini.
There are also rumors of a third-generation Apple Pencil with interchangeable magnetic tips for drawing, technical drawing, and digital painting.
Apple has yet to release any new iPads this year. If that trend continues for the remainder of 2023, it would be the first calendar year with no new iPads released in the device's 13-year history. The two reports expecting new iPad models this week said Apple's announcement would likely be on Tuesday, so we'll see what happens tomorrow.
Popular Stories
Apple's Worldwide Developers Conference (WWDC) starts today with the traditional keynote kicking things off at 10:00 a.m. Pacific Time. MacRumors is on hand for the event and we'll be sharing details and our thoughts throughout the day.
We're expecting to see a number of software-related announcements led by a design revamp across Apple's platforms that will also see the numbering of all of...
At today's WWDC 2025 keynote event, Apple unveiled a new design that will inform the next decade of iOS, iPadOS, and macOS development, so needless to say, it was a busy day. Apple also unveiled a ton of new features for the iPhone, an overhauled Spotlight interface for the Mac, and a ton of updates that make the iPad more like a Mac than ever before.
Subscribe to the MacRumors YouTube channel ...
Apple today announced a complete redesign of all of its major software platforms called "Liquid Glass."
Announced simultaneously for iOS, iPadOS, macOS, watchOS, tvOS, visionOS, and CarPlay, Liquid Glass forms a new universal design language for the first time. At its WWDC 2025 keynote address, Apple's software chief Craig Federighi said "Apple Silicon has become dramatically more powerful...
Apple today announced that iPadOS 26 will be compatible with the iPad models listed below.
iPadOS 26 features a new Liquid Glass design, a menu bar, improved app windowing, and more.
iPadOS 26 supports the following iPad models:iPad Pro (M4)
iPad Pro 12.9-inch (3rd generation and later)
iPad Pro 11-inch (1st generation and later)
iPad Air (M2 and later)
iPad Air (3rd generation and...
In 2020, Apple added a digital car key feature to its Wallet app, allowing users to lock, unlock, and start a compatible vehicle with an iPhone or Apple Watch. The feature is currently offered by select automakers, including Audi, BMW, Hyundai, Kia, Genesis, Mercedes-Benz, Volvo, and a handful of others, and it is set to expand further.
During its WWDC 2025 keynote today, Apple said that 13...
Apple at WWDC announced iOS 26, introducing a comprehensive visual redesign built around its new "Liquid Glass" concept, alongside expanded Apple Intelligence capabilities, updates to core communication apps, and more.
Liquid Glass is a translucent material that reflects and refracts surroundings to create dynamic, responsive interface elements, according to Apple. The new design language...
