Apple to launch budget Mac laptop that will cost well under $1,000: report

Core Insights - Apple is set to launch a budget Mac in the first half of next year, marking its entry into the low-cost laptop market for the first time [1] - The new device aims to attract customers from Google's Chromebooks and entry-level Windows PCs, targeting students, businesses, and casual users [1][2] Product Details - The budget laptop, code-named J700, will be priced well under $1,000 by utilizing less-advanced components [3] - It is currently in active testing and early production with overseas suppliers [3] - The laptop will feature an iPhone processor and a lower-end LCD display, with a screen size slightly below 13.6 inches, the smallest of any current Mac [4][6] Market Strategy - Apple is also targeting potential iPad buyers who may prefer a traditional laptop instead [2][5] - This will be the first instance of Apple using an iPhone processor in a Mac, which has shown to perform better than the previously used Mac-optimized M1 chip [6] Financial Performance - Apple reported Mac sales of $8.73 billion in the fourth quarter, exceeding estimates of $8.59 billion [7][8] - The company has forecasted holiday-quarter iPhone sales and overall revenue that surpass Wall Street expectations [7]