Another Weekly Session with Loui, M+ Online Head of Research.

What happened? On the evening of October 30th, 2023, Apple held a product launch event with a dark and spooky theme, just in time for Halloween. This event, named "Scary Fast," showcased the latest Mac products, including their cutting-edge next-generation chips.

Shot with just iPhone 15 Pro Max? Apple's "Scary Fast" event, where they unveiled the new Macs running on the M3 chip, left everyone in awe, and to add to the amazement, it was all captured using the incredible iPhone 15 Pro Max.

What was announced? Apple announced three new chips in the M3 chip family — the M3, M3 Pro, and M3 Max. The iMac will be updated with the M3, while the MacBook Pro will receive all three chips.

New product lineup. A new entry-level version of the 14-inch model features the M3, while the Pro and Max chips are reserved for higher-priced 14- and 16-inch models, which also get an exclusively black finish, which Apple calls the “Space Black”. Apple says that the aluminum used for the laptops is anodized in a way to reduce fingerprint smudges.

Who is manufacturing the M3 chips? The new chips are built on a 3-nanometer process, which is currently the most advanced semiconductor manufacturing technology from Taiwan Semiconductor Manufacturing Company ( $Taiwan Semiconductor Manufacturing Co., Ltd. Sponsored ADR TSM$ ).

Some key stats on the new M3 chips and they can be used for developing Artificial Intelligence software.

● There is an entry-level M3, a 40% faster M3 Pro, and a 250% faster M3 Max chip for AI developers and 3D artists.

● All M3 chips can get up to 22 hours of battery life on a laptop.

● The M3, M3 Pro, and M3 Max have a 8, 12, and 16-core central processing unit (CPU) and up to a 10, 18 and 40-core graphics processing unit (GPU), respectively.

● Apple says it can be used for developing artificial intelligence software.

● Apple says its CPU cores on the M3 are 15% and 60% faster than M2 and M1 CPU performance.

“Dark and Spooky” or “Bright and Cheerful”? In June, Apple reported a jump in Mac’s market share increased to 8.6%, registering a shipment growth by 10.3% YoY, the only major manufacturer to do so. In this event, Apple will be cutting the price of its entry-level 14-inch MacBook Pro, from at least $1999 to $1599, packaging it with a less powerful M3 chip, instead of the “Pro”-level chip on last year’s model. We believe this may provide sustainable growth into next quarter’s earnings.

Quarterly results this week and above 60% Buy rating. This Thursday, Apple will be reporting its 3Q23 earnings. Based on Bloomberg, Buy recommendations stood at 64.2% with a target price of USD199.76.

Are you with the 64.2% in Apple?

Ticker	Company Name	Last Closing (USD)	Current Market Cap (USD 'bn)	1-month Total Return (%)	3-month Total Return (%)
AAPL	$Apple Inc. AAPL$	170.29	2662.35	-0.54	-12.92
TSM	$Taiwan Semiconductor Manufacturing Co., Ltd. Sponsored ADR TSM$	86.06	446.34	-0.97	-14.24
AAPU	$Direxion Daily AAPL Bull 1.5X Shares AAPU$	23.23	0.03	-1.44	-20.58
AAPD	$Direxion Shares ETF Trust Direxion Daily AAPL Bear 1X Shares AAPD$	22.92	0.04	1.1	15.8

Source: Bloomberg

More about Loui:

Loui Low leads a team of analysts to perform equity and economic research and to provide investment advisory services to the organization's sales team, fund manager and retail fraternity. He has more than 10 years of experience in the stockbroking industry.

He graduated with a Bachelor of Science in Statistics from University of Malaya. He also holds an STA Diploma and is a member of the Society of Technical Analysts (MSTA) United Kingdom.

More about the Trade Radar:

Trade Radar is a weekly-updated section, featuring Loui's latest insights into market trends and hot topics. Traders may find some trading inspiration from Loui's views.

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