Apple Inc. introduced 5G versions of its low-end iPhone SE and iPad Air tablet, as well as a redesigned Mac desktop computer and a new processor, kicking off what’s likely to be its biggest year yet for new product releases. Apple unveiled the devices during a virtual event Tuesday that it called “Peek performance.” Chief Executive Officer Tim Cook also announced plans to bring Major League Baseball games to the company’s TV+ streaming service.

The presentation included a new Apple chip named M1 Ultra that the company called the most powerful personal-computer chip ever. The product is part of Apple’s yearslong shift away from using Intel Corp. processors in favor of its own components.

The new desktop computer, called the Mac Studio, features the M1 Ultra chip and is aimed at app developers, photo editors and video creators. Apple also unveiled a separate monitor.

Apple shares gained less than 1% to $160.50 at 1:32 p.m. in New York. They have fallen about 10% this year, in line with a broader slump.

                Source: Bloomberg