Apple Unveils $599 MacBook Neo, Wedbush Maintains $350 Price Target
Apple unveiled the 13-inch MacBook Neo, its cheapest laptop at $599 powered by the A18 Pro chip and offered in four colors—silver, light pink, yellow and blue—targeting budget buyers. Wedbush Securities retained its outperform rating and $350 price target, citing a roughly 33% upside driven by new M5 Pro/Max chips that deliver over four times AI graphics power.
1. Apple Launches Budget MacBook Neo
On March 4 Apple introduced the MacBook Neo, its first laptop priced at $599. The 13-inch model is powered by the A18 Pro chip, offers four finish options—silver, light pink, yellow and blue—and aims to attract budget-conscious consumers into the Mac ecosystem.
2. Wedbush Reiterates Outperform Rating
Wedbush Securities reiterated its outperform rating on Apple shares and kept its $350 price target, implying about 33% upside from recent trading levels. The firm pointed to the breadth of Apple’s new hardware lineup as a key factor de-risking the near-term revenue growth outlook.
3. Fusion-Architecture M5 Pro and M5 Max Chips
At the core of Apple’s product update are the M5 Pro and M5 Max chips built on Fusion Architecture, which fuses two 3-nanometer dies into a single system on chip. These chips boost AI and graphics performance by over four times compared to the prior M4 generation and power refreshed MacBook Pro and MacBook Air models with enhanced battery life and connectivity.