Apple Plans Sub-$1,000 Mac To Compete In Low-Cost Laptop Market

(RTTNews) - Apple (AAPL) is reportedly developing its first budget Mac laptop, aiming for a launch in the first half of next year, according to Bloomberg.

The device is intended to attract students, businesses, and casual users considering Chromebooks or entry-level Windows PCs, and could also sway potential iPad buyers who prefer a traditional keyboard.

The laptop, code-named J700, will use less-advanced components to keep the price well below $1,000, a departure from Apple's current pricing strategy. It is now in active testing and early production phases with overseas suppliers.

Bloomberg reports the system will include an iPhone-class processor and a smaller LCD screen under 13.6 inches, marking the first time Apple has used a smartphone chip inside a Mac. Internal testing suggests this chip outperforms older Mac-specific processors like the M1.

However, Apple declined to comment. The cheapest Mac today is the M4 MacBook Air at $999 - $899 with a student discount. The move comes as Apple posted $8.73 billion in Mac sales last quarter, slightly beating expectations, and projected stronger results for the holiday quarter, driven by iPhone demand.

AAPL currently trades at $270.43, or 0.59% higher on the NasdaqGS.