Apple Prepping iPad Mini Refresh? Top Analyst Says Stock Shortages Hint At AI-Powered Update After Two-Year Hiatus

Ananya Gairola

August 26, 2024

Reports are surfacing that Apple Inc. (NASDAQ:AAPL) stores are facing a shortage of iPad mini stocks, leading to speculation about a possible update to the device.

What Happened: On Monday, Bloomberg columnist Mark Gurman took to X, formerly Twitter, and reported that many Apple stores are running low on iPad mini stocks in several configurations.

According to Gurman, the device is considered “constrained” internally within Apple. He suggested that this could be an indication of an upcoming update to the iPad mini, which hasn’t seen a refresh since 2021.

Gurman, known for his accurate predictions about Apple’s product plans, added, “Wouldn’t be surprised to see it updated for AI.”

See Also: ChatGPT-Maker OpenAI Taps Former Meta Exec To Drive Strategy Amid Growing Exodus

Many Apple stores are low on stock of the iPad mini in several configs, while the device is considered "constrained" internally within Apple, I'm told. That *could* be a sign a new one is coming. It hasn't been updated since 2021. Wouldn't be surprised to see it updated for AI.
— Mark Gurman (@markgurman) August 26, 2024

Subscribe to the Benzinga Tech Trends newsletter to get all the latest tech developments delivered to your inbox.

Why It Matters: Last year, it was reported that Apple was preparing to launch the iPad mini 7 with three major upgrades and several new color options.

The report indicated that the seventh-generation iPad mini was expected to feature significant hardware and software upgrades two years after the launch of the iPad mini 6.

Meanwhile, Cupertino is also gearing up to unveil its upcoming smartphone series the iPhone 16, new Apple Watch, and AirPods at an event on Sept. 10.

This event will be crucial for the company, which has been facing sluggish sales in recent quarters. The new iPhone 16 is expected to help boost revenue, with some sales recorded in the current fiscal quarter.

Photo by guteksk7 on Shutterstock

Check out more of Benzinga’s Consumer Tech coverage by following this link.

Read Next:

Telegram Founder Pavel Durov’s Arrest In France Sparks Reactions From Ethereum Creator Vitalik Buterin And Tron Founder Justin Sun

Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.

Recommended

Analysts Are Projecting "Safe-Haven" Stock Will Nearly Double - Ad

Man Who Called Nvidia at $1.10 Says Buy This Now... - Ad

September 23 - The Biggest Crypto Event in History - Ad

Jeff Bezos built Amazon into an e-commerce giant by prioritizing customer satisfaction, symbolized by an empty chair in meetings representing "The Customer" as the most important person, which has significantly contributed to the company's success.

Pagers that exploded in Lebanon and Syria were made by a company in Budapest, Gold Apollo says

TAIPEI, Taiwan (AP) — Taiwanese company Gold Apollo said Wednesday that it authorized its brand on the but that another company based in Budapest manufactured them.

5 Stocks That Could Triple in a Week

5 Stocks That Could Triple in a Week - Ad

What if I told you that I have a system that has detected when these tiny stocks are on the verge of exploding... And what if I told you my system has targeted 5 new stocks that could triple as early as next week? Pay just $5 for a full year of Stealth Trades before this deal disappears!

Starmer and Meloni holding talks on curbing migrant boats reaching UK and Italy

ROME (AP) — U.K. Prime Minister is meeting Italian in Rome on Monday, as the two very different politicians, from left and right, seek common cause to curb .

Federal Reserve is set to cut interest rates for the first time in 4 years

WASHINGTON (AP) — Having all but tamed inflation, the Federal Reserve is poised to do something Wednesday it hasn’t done in more than four years: Cut its benchmark interest rate, a step that should lead to lower borrowing costs for consumers and businesses just weeks before the presidential election.

Elon Musk: Without This Company, "Civilization Will Crumble"

Elon Musk: Without This Company, "Civilization Will Crumble" - Ad

Did you know that there's an investment that will give you the opportunity to collect "royalties" every time Nvidia makes a chip? Ex-Wall Street CEO Dylan Jovine calls this "the easiest windfall from the AI revolution." Even ChatGPT founder Sam Altman says AI depends on this company's work...

Shaquille O'Neal Reflects On Divorce, Fatherhood And Personal Accountability: 'I Was Lost. 76,000 Square Foot House By Yourself'

For many the topic of divorce and overcoming the great life obstacle can be tough. NBA legend Shaquille O'Neal shared his candid thoughts on the topic.

Scaramucci Says Melania Trump Would Prefer Kamala Harris To Donald Trump As President

Anthony Scaramucci has claimed that Melania Trump would rather see Kamala Harris win the presidency than her own husband.

4 Steps to Survive the Coming Market Crash

4 Steps to Survive the Coming Market Crash - Ad

There are massive cracks forming right below the surface of our "shining city." These cracks are a symptom of a much bigger problem that threatens the very foundation of our country. Things are starting to unravel at a fast pace, as America sees worst economic hell our country has ever been in.

Apple Staring At 'Lower Than Expected' Demand For iPhone 16 Pro And Pro Max In The First Weekend, Says Top Analyst

Apple is experiencing lower than anticipated demand for its iPhone 16 Pro and Pro Max models during the first weekend of pre-orders, according to top analyst Ming-Chi Kuo.

Israel has a long history of pulling off complex attacks like the exploding pagers

JERUSALEM (AP) — Hezbollah and the Lebanese government were quick to blame Israel for the nearly used by the militant group's members in an attack Tuesday that killed at least nine people and wounded nearly 3,000 others, according to officials.

Could You Retire on a Single AI Stock (Trading for Only $15)?

Could You Retire on a Single AI Stock (Trading for Only $15)? - Ad

Imagine what the perfect AI stock would look like...forefront of AI trend...virtual monopoly in its market... exempt from federal taxes. As you're about to see, this perfect AI stock does exist, and is currently trading for only $15. With just one investment, you could potentially set yourself up for massive financial gains.

Harris Vs. Trump: Vice President On Top By Three Points, How Her Lead Compares To The 2020 Election At This Point In Race

A new 2024 election poll of likely voters shows a three-point lead for Kamala Harris. There is good and bad news from the poll for the vice president.

Trump Vs. Harris: Vice President's Strong Debate Showing, Taylor Swift Endorsement Do Not Move Needle On Her Poll Numbers As Pollster Cites This Reason

Strong debate performance hasn't translated to strong voter preference for Vice President Kamala Harris, according to a new poll.

Silicon Valley Billionaires Are Quietly Buying Into What We Call the "Imperium" Boom

Silicon Valley Billionaires Are Quietly Buying Into What We Call the "Imperium" Boom - Ad

See why Bill Gates, Mark Zuckerberg and Peter Thiel are making huge bets on this breakthrough now.

Amazon is requiring workers to be in the office five days a week starting next year

is reverting to its pre-pandemic policy and will require corporate employees to be five days a week starting next year, CEO Andy Jassy said Monday.

Fortified bouillon cubes are seen as a way to curb malnutrition in Africa as climate worsens hunger

IBADAN, Nigeria (AP) — In her cramped, dimly lit kitchen, Idowu Bello leans over a gas cooker while stirring a pot of eba, the thick starchy West African staple made from cassava root. Kidney problems and chronic exhaustion forced the 56-year-old Nigerian woman to retire from teaching, and she switches between cooking with gas or over a wood fire depending on the fuel she can afford.

Man Who Predicted Trump Win Issues Shocking New Election Prediction

Man Who Predicted Trump Win Issues Shocking New Election Prediction - Ad

In 2016, surveys were giving Hillary Clinton more than 99% chance of winning right up until election night. But right before the election... Former advisor to the CIA, Jim Rickards predicted Trump would win. You won't believe what he's predicting now. And it could have huge implications for the financial markets.

The 2024 Olympics were a success for Paris but a calamity for some of its businesses

PARIS (AP) — Parisian business owners and hotel managers were promised a summer like no other. Millions of tourists would flood the French capital for the and , generating huge profits for Paris and its region.

Nvidia's AI Surge Powers 25% of S&P 500 Gains in 2024, Makes Co-founder Huang Among Fastest Growing: Report

Nvidia's 166% rise in the past year, along with other Big Techs, is driving the S&P 500. CEO Huang expects strong demand for chips due to AI ambitions.

Don't Buy Another Stock Until You See This

Don't Buy Another Stock Until You See This - Ad

We face a widespread collapse unlike anything we've seen in our lifetimes. By taking 4 simple steps today you can stay safe from the coming catastrophe. Which is why I want to rush you my new book "Midnight in America" FOR FREE.

Utility ordered to pay $100 million for its role in Ohio bribery scheme

An energy company at the center of a $60 million bribery scheme in Ohio has been ordered by the U.S. Securities and Exchange Commission to pay a $100 million civil penalty for misleading investors about its role in the scandal.

OnlyFans Beats Apple, Google, Netflix, And Other Big Tech Companies In Revenue Per Employee: Here's The Down Low

Content-sharing platform OnlyFans has come out on top against big tech companies like Apple Inc., Alphabet Inc.'s Google, Netflix Inc., and others in terms of revenue generation per employee.

U.S. Loses to China in Shocking WAR GAMES

U.S. Loses to China in Shocking WAR GAMES - Ad

Pentagon says new "living missile" key to winning a future conflict. Investors stand to reap 35,960% on shares of the small defense contractor that makes powerful new weapon.

Will the Federal Reserve cut interest rates fast enough to deliver a 'soft landing'?

WASHINGTON (AP) — American consumers and home buyers, business people and political leaders have been waiting for months for what the Federal Reserve is poised to announce this week: That it's from a two-decade peak.

McCormick's hedge fund days are a double-edged sword in Pennsylvania's Senate race

HARRISBURG, Pa. (AP) — Before he ran for the U.S. Senate in Pennsylvania, was a big name on Wall Street.

A 10,000% Dividend?!?

A 10,000% Dividend?!? - Ad

Have you seen this strange oil investment? It's NOT a stock, bond, or private company...It has NO age requirements...You do NOT need to be accredited to participate... And you can get in for as little as $25.

The Masters adds two hours of weekend coverage on Paramount+

The Masters and CBS are expanding television coverage next year by five hours, which includes two hours on Saturday and Sunday through the Paramount+ streaming service of CBS.

Atlantic City's top casino underpaid its online gambling taxes by $1.1M, regulators say

ATLANTIC CITY, N.J. (AP) — New Jersey gambling regulators say Atlantic City's top-performing casino, the Borgata, underpaid some of its internet gambling taxes twice by taking almost $15 million more in credits than it was entitled to.

4 Cryptos Set to Outperform Bitcoin in 2024

4 Cryptos Set to Outperform Bitcoin in 2024 - Ad

Chris Rowe, the man who spotted 44 different coins that have returned over 100%, is now making the biggest crypto call of his ENTIRE career.... Because a powerful crypto event will trigger on June 24th... Sending hundreds of tiny cryptos soaring 5X, 50X, even 100X -- in just days.

Firm offers bets on congressional elections after judge clears way; appeal looms

ATLANTIC CITY, N.J. (AP) — You can now do more than just vote in this fall's Congressional elections: You can bet on them, too.

Treasury recovers $1.3 billion in unpaid taxes from high wealth tax dodgers

WASHINGTON (AP) — The IRS has collected $1.3 billion from since last fall, the agency announced Friday, crediting spending that has ramped up collection enforcement through President Joe Biden's signature signed into law in 2022.

My No. 1 Oil Play for 2024

My No. 1 Oil Play for 2024 - Ad

Do you own oil and gas stocks? Or are you thinking about buying some? If so, you need to see my #1 oil play for 2024. But it's NOT oil stocks, futures, or anything you've likely heard about. Rather, it's an unusual way to potentially bank monthly income from the oil and gas markets.

E. Jean Carroll Case: Appeals Court Skeptical of Trump's Bid to Overturn Sexual Abuse Verdict

E. Jean Carroll's case sees an appeals court skeptical of Donald Trump's bid to overturn a $5 million verdict for sexual abuse and defamation.

Postal Service insists it's ready for a flood of mail-in ballots

U.S. Postmaster General Louis DeJoy assured state election officials in a letter released Monday that he'll work with them to handle their warnings of problems with election mail delivery during the primary season, while insisting that the Postal Service will be ready for the flood of mail-in ballots ahead of the November election.

This $2 Stock Outshines Historic Gold Rally!

This $2 Stock Outshines Historic Gold Rally! - Ad

Gold has soared 25% in the last 6 months, but this young company has more than doubled that return. With a price target nearly double its current value, it's caught the eye of 40+ investment banks and funds. Discover the name of this standout company today and see why it's a potential gold mine for investors.

Google wins legal bid to overturn 1.5 billion euro antitrust fine in EU digital ad case

LONDON (AP) — Google won a court challenge on Wednesday against a 1.49 billion euro ($1.66 billion) European Union antitrust fine that targeted its online advertising business.

Bitcoin, Ethereum, Dogecoin Pump 5%: Here's What Wednesday's Fed Rate Cut Decision Could Mean For Crypto

Cryptocurrency markets are bracing for the Federal Reserve’s decision on Wednesday whether to cut interest rates by 25 or 50 basis points.

Why Are These Strange "Accidents" Happening All Over America?

Why Are These Strange "Accidents" Happening All Over America? - Ad

Across America, strange "accidents" are happening in greater numbers than ever before. Jets are falling apart, chemicals are spilling, construction workers are being electrocuted -- and no one knows why. In his new exposé, American financial analyst Dan Ferris reveals the silent force behind this trend... why it's destroying this country from the inside... and where all signs suggest it's about to strike next: the U.S. stock market.

Mark Zuckerberg Says He Is Done Apologizing, Reveals One Of The Biggest Mistakes Of His Career

Meta CEO Mark Zuckerberg says he has grown tired of taking on too much ownership of problems beyond his or his company's control.

Trending Now