Apple to hold Nov. 10 event, expected to bring new Macs with custom chips

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Apple Inc. announced Monday that it would be holding a Nov. 10 virtual event, its third over the past three months. While the company didn’t specify on its events page what the presentation will cover, the company is expected to reveal new Mac computers with its own custom-designed chips. The company announced earlier this year that it planned to start introducing Macs with Apple-designed chips over time, which would phase out Intel Corp. , which currently supplies processors for the Mac. Apple already uses custom chips with ARM Holdings architecture for the iPhone and iPad. Chief Executive Tim Cook said back in June that Apple expected the transition to custom silicon processor to take two years as the company planned to launch its first silicon Mac by the end of the year, though other Intel-based Macs were also in the pipeline. Apple shares are down 0.9% in Monday afternoon trading. The stock has gained 47% so far this year as the Dow Jones Industrial Average has slipped 6%.
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