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

Top AI Stock (It's Not MSFT, GOOGL, AMZN or AAPL) - Ad

The "Amazon Coin" -- To Be Bigger Than Bitcoin? - Ad

DO NOT Make Another Trade Without Seeing This First - Ad

Movies about Kamala Harris and Donald Trump hit theaters in October. Find out the differences between the movie and why one candidate wants a ban.

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.

Discover the $2 Stock That Has Institutional Attention

Discover the $2 Stock That Has Institutional Attention - Ad

With a $1.3B market cap and forecasts to grow 2X faster than the sector, dozens of investment banks are betting big. Strong leadership, cash on hand, and a $3 target make it a must-see.

Americans Split On Election Result Acceptance Between Harris And Trump, Here Is The Candidate They Think More Likely To Accept Voters' Verdict

A survey conducted by ABC News/Ipsos has shed light on the American public's confidence in the acceptance of the upcoming November presidential election results by Vice President Kamala Harris and former President Donald Trump.

Trump Vs Harris: The Controversy Over 'No Artificial Lifts' Rule In Tuesday Debate: 'A Form of Cheating!'

Ahead of the much-anticipated debate Tuesday night between Donald Trump and Kamala Harris, Trump has voiced his opinion on the "no artificial lifts" rule.

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

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

In 2004, a man predicted Nvidia's rise. Now, he says a new company, which IPO'd in 2023, could soar like Nvidia. It signed a major deal with Apple for its AI tech in iPhones and iMacs. Could it be the next trillion-dollar company? See why he believes it's among "The Next Magnificent Seven."

Trump Vs Harris: Who Do Russia, Iran And China Favor In 2024 Election? Intelligence Officials Weigh In

U.S. intelligence officials believe that Russia, Iran and China have preferred candidates in this year's U.S. presidential election. Each of these foreign powers has different views on who would best serve their interests.

Mother Sells Taylor Swift Tickets Over Star's Endorsement Of Kamala Harris: 'I'm Gonna Shake It Off, And I'm Done With You'

A mother has chosen to sell the Taylor Swift concert tickets she had bought as a birthday present for her daughter in response to the pop star's recent endorsement of Kamala Harris.

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.

More Hong Kongers tune out the news as they adapt to Beijing's tightening grip

HONG KONG (AP) — Hannah Wong cried when the Hong Kong government effectively forced and out of business three years ago. Among the last news outlets in the city willing to criticize the government openly, many saw their end as a sign that the old Hong Kong was gone for good.

Colorado plans to relocate wolf pack as reintroduction effort stumbles amid livestock attacks

Wildlife agencies are trying to capture and relocate the first pack of wolves that formed under Colorado's ambitious after the animals repeatedly , marking an early stumble in the first year of the voter-driven initiative.

Red-Hot AI Stock "Disappearing" Soon? (Get In Now)

Red-Hot AI Stock "Disappearing" Soon? (Get In Now) - Ad

Right now, there's an AI stock on the verge of being snapped up by a giant company... And when it does, its price could go flying. The potential gains could be astronomical. You want to get in before that happens... Otherwise the opportunity could pass you by. Your window to buy in is right now...

Scaramucci: Trump Wins Billionaires' Support Despite Coming Off As 'Raging Lunatic,' Harris Backs A 'Ridiculously Stupid Idea'

Trump is someone who can't keep to his messaging and his rival Kamala Harris can gain an upper hand by going on offensive, says Scaramucci.

Bezos Vs. Musk Battle Heads To Space: How Amazon Founder Is Taking Tesla CEO On More Directly

A multi-year rivalry between Jeff Bezos and Elon Musk is out of this world. The space battle could heat up in the coming months.

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

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

Already up nearly 50% in the last 6 months this gold company has an analyst target nearly twice its current price. With 40+ investment banks and funds already invested it's no wonder this $1.3B company (trading under $2) is grabbing investor attention.

California's 'Operation Sticky Fingers' Nails Two Dozen Dispensary Thieves After $1M In Weed Stolen

California cannabis dispensary theft ring busted in 'Sticky Fingers' raid. $1M in stolen products retrieved and two dozen suspects arrested.

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.

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.

NASA Revamps SpaceX's Crew 9 Lineup To Make Room For Astronauts Stranded At ISS Due To Boeing's Starliner Issues

Only two astronauts will launch on NASA's upcoming SpaceX Crew-9 mission instead of four so as to accommodate the two astronauts who arrived at the station aboard Boeing's Starliner spacecraft, the space agency said on Friday.

Palantir And Dell Are Set To Join S&P 500 Index: Here's What Peter Thiel And Michael Dell Have Said About Bitcoin

In a major development, tech behemoths Palantir Technologies Inc. (NYSE:PLTR) and Dell Technologies Inc. (NYSE:DELL) are all set to join the blue-chip S&P 500 index.

Buffett's Big A.I. Secret (Handle With Care)

Buffett's Big A.I. Secret (Handle With Care) - Ad

A.I. is the talk of the town...But here's what they're NOT telling you. Former investment banking V.P. Ross Givens is letting the cat out of the bag. He's leaking a revolutionary new development, which changes everything. It will kick off A.I.'s massive second wave.

Struggling To Connect On Tinder, Grindr Or Bumble? Dating Apps Now Have An AI Wingman For You

Leading online dating platforms like Tinder, Hinge, Bumble, and Grindr are incorporating AI-powered tools to enhance user experience by generating conversation starters, building profiles, and providing interaction feedback.

Elon Musk And Trump's Federal Efficiency Plans Slammed By Paul Krugman, Economist Warns About Risks To Medicare, Social Security: 'Government Is An Insurance Company With An Army'

Nobel laureate Paul Krugman has expressed concerns over Republican presidential candidate Donald Trump and Tesla Inc CEO Elon Musk's proposed federal spending cuts. Krugman shared his thoughts on X on Thursday, ahead of the 2024 presidential election.

A New Drug Set to Outgrow Zoloft and Metformin--Invest Now

A New Drug Set to Outgrow Zoloft and Metformin--Invest Now - Ad

A new breakthrough drug is predicted to hit 250 million subscriptions in the next SIX YEARS, according to Morgan Stanley. Even better, a tiny company - trading for only $7 - holds key patents on this new drug. But it won't stay under the radar for much longer.

Hedge fund Elliott Investment Management steps up pressure on Southwest Airlines' management

DALLAS (AP) — Elliott Investment Management, a hedge fund urging Southwest Airlines to and chairman, said Tuesday it has acquired enough of the company's stock to call a special meeting of shareholders.

Investigators say dispatching errors led to Union Pacific train crash that killed 2 workers

OMAHA, Neb. (AP) — Dispatching errors combined with the failure of two backup systems allowed a Union Pacific train to that had been parked on a side track for nine months in Southern California two years ago, killing an engineer and a conductor, according to a report issued Thursday.

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...

Ethereum Co-Founder Vitalik Buterin Invests Ethereum Proceeds Into Aave, But Trader Says 'Not The Area To Buy'

Ethereum (CRYPTO: ETH) co-founder Vitalik Buterin swapped a significant sum of ETH to deposit into a DeFi protocol, with traders predicting a bright future for it.

Video game performers reach agreement with 80 video games on AI terms

LOS ANGELES (AP) — After striking for over a month, have reached agreements with 80 games that have signed interim or tiered budget agreements with the performers' union and accepted the artificial intelligence provisions they have been seeking.

Seven Unknown AI Stocks That Could Dominate the Next Six Years

Seven Unknown AI Stocks That Could Dominate the Next Six Years - Ad

The original "Magnificent Seven" stocks generated 16,800% over the last 20 years. But now a new set of AI stocks is set to take over. Alex Green dubs them "The Next Magnificent Seven." And he's arguing that just $1,000 in each could turn into more than $1 million in less than six years.

Tron Founder Justin Sun Channels His Innner SBF: 'I'll Buy As Much SUN As You Have At $0.03, Then Go...'

Tron (CRYPTO: TRON) founder Justin Sun recently took to social media to confront critics of his newly launched Sun (CRYPTO: SUN) token, echoing a move reminiscent of former FTX founder

Japanese 7-Eleven convenience store chain operator turns down Couche-Tard takeover offer

TOKYO (AP) — The parent company of the Japanese 7-Eleven convenience store chain said Friday that it’s turning down a takeover offer from Alimentation Couche-Tard Inc. of Canada.

New "Living Missile" to Replace Nuclear Missiles

New "Living Missile" to Replace Nuclear Missiles - Ad

CBS News Reports: "It's an entirely new type of weapon." The New York Times Reports: "No existing defense can stop it." And one small company is building them for the Pentagon!

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.

Navy officer demoted after installing unauthorized satellite dish on warship to access internet

SAN DIEGO (AP) — A U.S. Navy chief who wanted the internet so she and other enlisted officers could scroll social media, check sports scores and watch movies while deployed had an unauthorized Starlink satellite dish installed on a warship and lied to her commanding officer to keep it secret, according to investigators.

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.

Elon Musk Lashes Out At Judge After Brazil's Supreme Court Blocks Starlink's Bank Accounts: 'Criminal Wearing Judges Robes Like A Halloween Costume'

The Supreme Court of Brazil imposed a financial freeze on Elon Musk's Starlink, escalating a legal dispute that could lead to suspending his social media platform, X, in Brazil due to non-compliance with court orders.

Japan Leads Asia Markets Decline, Europe Slides; Crude Oil Falls below $70 - Global Markets Today While US Slept

US stocks close lower on weak manufacturing data and Fed rate cut uncertainty. Asian markets follow with major declines. Commodities and futures down.

Kamala Harris May Seize This Cutting-Edge Tech -- Act Now

Kamala Harris May Seize This Cutting-Edge Tech -- Act Now - Ad

A new technology (not AI) is powerful enough to save America $1.7 TRILLION in healthcare costs each year. Trump is rumored to use it personally... And Kamala Harris has threatened to have key patents on it seized. Whoever wins the election - it could cause a massive surge in demand... And send a tiny firm with key patents on this technology soaring. It's currently trading for only $7. But it likely won't stay this cheap for long.

What's Going On With Brenmiller Energy Shares Friday?

Brenmiller Energy shares are moving higher on Friday after the company reported a year-over-year increase in EPS for the first half of the 2024 fiscal year.

Trending Now