Apple (AAPL) Shifts Mac Chip Strategy to AI-Focused M7 by 2027

AI Summary

Apple Inc. (AAPL) plans to revise its Mac chip roadmap, launching a base M6 chip for entry-level Macs by the end of 2023 while skipping M6 Pro and Max variants. The new AI-focused M7 generation is expected in 2027, aimed at enhancing on-device AI and graphics performance. Evercore ISI reported price increases of 17% to 25% on select Macs and iPads, which could protect gross margins but may impact demand. As of recent trading, AAPL shares were down approximately 5% to $277.65. Evercore maintains an Outperform rating with a $365 price target.