New iPads Are Overdue

If it wasn’t already obvious enough, Apple’s shrinking iPad revenue makes it abundantly clear that the 18-month iPad drought is affecting its balance sheet.

With only $5.56 billion in iPad sales, that category dropped by 16.7% to its lowest since 2020, when the iPad accounted for only $4.4 billion in revenue.

That follows a 12.8% drop in Q2 2023, and while some of that can be explained by a return to normalcy after the COVID-19 surge in iPad purchases, when sales skyrocketed to $7.8 billion, a lack of new models isn’t likely helping things much.

Of course, with a whole new slate of iPads Pro and Air expected to make their debut next Tuesday, Apple is undoubtedly expecting its Q3 2024 iPad numbers to take a significant turn for the better.