Apple held its Worldwide Developers Conference on Monday, where it unveiled a slew of new software, including iOS, the latest version of its iPhone operating system, and announced that it is abandoning its plan to use Intel (NASDAQ: INTC) chips in all of its Mac computers in favor of in-house designed chips, a shift it said would speed up processing speeds in Apple's notebooks and desktop computers. desktop computers with faster processing speeds.
Apple shares jumped 2.621 TP3T to $358.87, while Intel Corp. shares jumped 0.791 TP3T to $60.09.
At the conference, Apple CEO Tim Cook mentioned racism and the new coronavirus pandemic, and he mentioned Apple's plan to spend $100 million to fight racial injustice, noting that Apple was holding the conference during a global public health event.
Cooke said, "We are determined to be a force for change."
Apple says that future Mac computers will use Apple-designed chips. Previously, Apple used Intel chips in Mac laptops and desktop computers, which Cooke said was a "huge leap forward." Apple said they designed their own chips specifically for the Mac, which allows them to deliver higher performance while consuming less power.
Apple now uses its own chips in products like the iPhone, iPad, Apple Watch and Apple TV, and says it has sold more than 2 billion of them so far. In addition, Mac computers with Apple's own chips can also run iPhone and iPad software.
Apple emphasized that one reason the company is making this change is that it wants more performance without requiring less power. The shift will require software developers to update their software for compatibility, and Apple says that developers can create new applications "in a matter of days," and that there are many new software features that will allow developers to easily port their applications. Microsoft and Adobe have been updating their software, including Photoshop and Excel, to accommodate the new Macs, Apple said.
Everything developers need to create applications for these new chips is included in Xcode. According to CraigFederighi, Apple's senior vice president of software, Craig Federighi said
Users will be able to use applications that have not yet been updated with a new feature called Rosetta2, which will provide backward compatibility with Intel chip-based features and will also support "virtual machines" so that software developers can run Linux.
Apple's own proprietary software, including FinalCut Pro, is already compatible with the new Apple chips, Apple says.
At the conference, Apple did not announce new consumer computers using its new chips, but instead introduced the Mac Mini with Apple chips for software developers.
