Apple's new MacBooks, AirPods get mild response from investors

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• Apple (NASDAQ:AAPL) ended Monday with mild gains following a company event in which it unveiled a revamped MacBook Pro laptop and the next model of its wireless AirPods.
• Apple (AAPL) shares rose 1.2%, to close at $146.55 following the event which was widely anticipated to feature something new involving the Mac. At the center of the event were the two new MacBook Pros, which come with either a 14-inch screen starting at $1,999, or a 16-inch screen, with an initial $2,499 price tag. The MacBooks come with either Apple's new M1 Pro or M1 Max processors, as the company continues to focus on using its own proprietary chip technology and move away from its long-time chip partner, Intel (NASDAQ:INTC).
• The newest models of AirPods include enhanced sound technologies, improved battery life and will start at $179. All of the new products will be available starting next week.
• Dan Ives, managing director with Wedbush, said Apple "did not disappoint" with its new MacBooks and AirPods, and that company is banking on a new product upgrade cycle to boost its business, even during a period of component shortages in the tech sector.
• "Both of these products have been long anticipated and it's a statement that Apple is announcing these key hardware innovations into holiday season despite the chip shortage overhang," said Ives, who has an outperform rating and $185-a-share price target on Apple's stock.
• With Monday's event, Apple has filled out its product line in time for the end-of-the-year holiday shopping season. In September, Apple rolled out four new versions of the iPhone 13, new iPads and the next version of the Apple Watch to get consumers excited to fill their holiday shopping lists.