<div class="block">Apple unveiled its latest innovation in the new M3 chips. The tech giant says the chip will deliver extremely fast and efficient performance. Cheddar News senior reporter Michelle Castillo detailed all the specs of the chip and how it is expected to impact Apple products. </div>

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Apple Unveils New M3 Chips

And Apple held its latest product event last night. The presentation was called Scary Fast, which was both a nod to Halloween and its new chips that it believes are the best in the market for the latest on Apple. We're bringing in Cheddar, new senior reporter Michelle Castillo, Michelle Apple unveiled a new line of computers. Tell us more. That's right, Hannah, we're getting some new computers from Apple and these will be their fastest line yet. So let's start with the Macbook Pros. So the 14 inch model will start at 1599. If you're looking for something a little bit larger, there's a 16 inch version and that will be available starting at 2499. There's also an IMAC desktop for 1299 and you can order all of these today and they should all ship by November. Now, while these Macbook Pros are cheaper than their old, their counterparts, let's take for example, that 14 inch model I talked about that actually used to start at 1999. Apple did get rid of a 12 inch model and that version was only 1299 and pretty popular. So you're starting at a higher price point. These computers all come with the new family of M three chips. So for example, the Macbook Pros Apple claims that the M three max chip are as much as 11 times faster than the versions they used to use with intel chips. It's also up to two point five times faster than its older computers that use its own M one Mac chips. There's gonna be a new color that's coming out. It's called space black which promises it will take fewer fingerprint smudges if that's your concern. And Apple is also continuing its commitment to the environment. So these new Macbook pros are made from an alloy that uses 100% recycled aluminum. It will also use fully recycled rare earth elements in its magnets and 100% recycled tin soldering and gold plating in its multiple printed circuit boards. And Apple's announcement revolved around its new M three line of chips for those of us that don't know what makes these chips so special, Michelle. Well, these M three chips are part of Apple's move to make its own chips. So it hasn't said who's manufacturing them. But Reuters reports that analysts believe the chips are made by Taiwan Semiconductor manufacturing. This is also the company that makes the chips for the highest and iphone 15 models. This marks a further shift away from those Intel chips that Apple used to use. Now, Apple started to blame Intel in 2019 for making a poor quality chip that they said led to a slump in its computer sales. They had that partnership for 15 years now, since it's moved away from using Intel in its computers in 2020. That's actually not a very surprising move since it had already used other chips in its tablets and iphones prior to that 2020 move and the company is reporting its latest quarterly earnings this week. What should we be looking out for? Well, analysts are curious to see if people are still buying computers in this tough environment. So let's remember that last year Mac computers brought in $40.18 billion in revenue. It's about 11% of total revenue for Apple that was also up from 2021. But so far this year, computer sales have been lackluster. For example, last quarter, Mac sales were down 7% year over year and total revenue for Apple. Last quarter was down 1% year over year. There's a couple of other things you want to keep it out eye out for Apple released the new iphone 15 in September. So we should be getting some new sales figures for those. But analysts will really be looking on any inkling on what the next year should hold for the company. So for example, Apple had announced earlier, it's mixed reality headset that Apple Vision Pro and they're saying that won't be for sale until 2024 we might get some more details about that. All right, I know you'll stay on top of it, Michelle Castillo. Thank you so much.