Apple Keynote Event May 7 at 10 a.m.

Apple is holding a keynote event on Tuesday, May 7 at 10 a.m. Eastern time, 7 a.m. Pacific time.

CEO Tim Cook is expected to introduce a new lineup of iPads at the event. The event is likely pre-taped.

Apple reported iPad sales of $5,559 billion in the first quarter of 2024, down from $6.67 billion a year ago.

iPhone sales were $45.9 billion in the quarter, down from $51.3 billion.

The company did announce it will increase its stock buyback up to $110 billion, which helped propel the stock price even though sales declined.