'Apple Upgrade' Program Launching on Tuesday

In his newsletter today, Bloomberg's Mark Gurman reiterated that a new "Apple Upgrade" program is set to launch in the U.S. on Tuesday, July 28. Apple will stop accepting iPhone Upgrade Program sign-ups on the same day, but he said customers who are already enrolled will be able to remain in the program "for the time being." Apple is partnering with buy-now, pay-later company Klarna on the program, he said. The program will allow you to lease most iPhone, iPad, Mac, and Apple Watch models, with a 24-month term for iPhones and Apple Watches and a 36-month term for iPads and Macs. Customers will have various options, including returning their device after the term, upgrading to a newer device, paying a fee to keep the device, and so forth. Some lower-priced devices, including the Apple Watch SE, the entry-level iPad, the iPhone 16, and the MacBook Neo, will not be eligible, he said. Unlike the iPhone Upgrade Program, Apple Upgrade plans will apparently not include AppleCare+ coverage bundled into the monthly price. Apple plans to advertise the program as a way to have lower monthly payments compared to current financing programs, according to the report, so it sounds like Apple Upgrade will be focused on leasing rather than traditional financing, and it will apparently replace the iPhone Upgrade Program for new purchases going forward. Popular StoriesMac Studio M7 Ultra Expected in 2028 With Better CoolingThe next major Mac Studio update is still a couple of years away, but a refresh for 2026 is still in the cards, according to Bloomberg's Mark Gurman. Writing in the latest edition of his Power On newsletter, Gurman said Apple has two Mac Studio refreshes in the pipeline: an M5 Ultra version due this year, and a more significant M7 Ultra model expected in 2028. Apple appears set to skip...Here's Why Apple is Reportedly Skipping M6 Pro and M6 Max ChipsAccording to Bloomberg's Mark Gurman, Apple will be releasing a regular M6 chip, but it has no plans to offer higher-end M6 Pro and M6 Max chips. In his Power On newsletter today, he said the reason for this break in tradition is AI. "Apple had been planning major neural-processing upgrades for the M7 family and ultimately decided those improvements were important enough to justify...Two New Apple Pencils Reportedly Launching Next YearTwo new Apple Pencil models are in development for release alongside next-generation iPad Pro models next year, according to Bloomberg's Mark Gurman. Specifically, he said new versions of the lower-end Apple Pencil with a USB-C port and the higher-end Apple Pencil Pro are in the works. Apple is working to satisfy upcoming EU requirements related to making batteries more replaceable,...