Apple (AAPL) - Get Report on Monday announced a special ‘One More Thing’ event slated for Nov. 10 that was widely believed to be for the launch of the newest Apple computers featuring its own ARM-based Apple Silicon microprocessors, rather than the Intel (INTC) - Get Report processors it’s used for the last 15 years.
At its World Wide Developers Conference in June, Apple first indicated that it planned to switch over from Intel chips and said that its first computers featuring the new processors would be out by the end of the year.
Shares of Apple were down 0.8% to $108.04 on Monday afternoon following the announcement.
The move to designing its own chips means that Apple iOS and iPadOS applications will be able to run natively on macOS, making the creation of applications by Apple developers easier. The switch should improve performance while reducing power consumption.
The Nov. 10 event will be Apple’s third in three months, following its introduction of the iPhone 12 series, MagSafe accessories and HomePod mini in mid-October, and its launch of the Apple Watch Series 6, Apple Watch SE, Apple Fitness+, new iPad Air and iPad, and Apple One services bundle in mid-September.