AAPL: Apple Stock Adds 1.2% as ‘Scary Fast’ Event Unveils New MacBook Pros, M3 Chips

First look at the M3-powered iMac and MacBook Pro models three days before the company’s Q3 update that is widely expected to show a fourth-in-a-row revenue decline.

• Apple stock AAPL ticked higher by 1.2% to start the week as the tech behemoth held a special event eerily-named ‘Scary Fast.’ Apple unveiled its third-generation M3 processors that will debut in the updated iMac and MacBook Pro models. The geeks at Apple bragged that these new chips are 40% to 80% faster than the OG M1 series. Now that’s scary fast!
• Next, Apple also announced the new lineup of the MacBook Pro family of laptops. The 14-inch device that every Gen Z brings to Starbucks when they need to send an email will start at $1,599, down from $1,999. The 16-incher runs from $2,499, unchanged from the prior version.
• Apple’s ‘Scary Fast’ event comes just three days before the company’s third-quarter earnings update. Investors expect a fourth consecutive decline in revenue and will zoom in on the company’s iPhone 15 sales, which launched in September. Apple stock is down 14% from its record high earlier this year.