An apple on Tuesday announced new versions of its iPad Air and iPad Pro tablets in a short video posted on its website.

“This is the biggest day for the iPad since its launch,” said Apple CEO Tim Cook.

The new iPad models are the first that Apple has released since October 2022, which is the longest time that Apple has not updated the iPad product line since its launch in 2011.

Shares of Apple were flat in trading on Tuesday.

Apple’s new iPad Pro comes in two sizes and starts at $999. It also has a new optional case called the Smart Keyboard that makes it feel like a laptop.

The iPad Pro, Apple’s most expensive and advanced tablet, will come in two sizes, an 11-inch model and a 13-inch model, Apple said. The company called the product the thinnest ever at 5.1mm thick.

The smaller iPad Pro starts at $999, and the larger 13-inch model starts at $1,299 with 256GB of storage, a slight price increase over its predecessor.

The iPad Pro will be housed in a new case that Apple calls the Magic Keyboard, which is made of aluminum and combines the tablet with a keyboard and trackpad. Apple said that using the case will make using the iPad Pro like a laptop, ie. “just like a MacBook”.

Apple’s new Magic Keyboard accessory.

CNBC/Todd Haselton

The Magic Keyboard will cost $249 or $299, depending on the size. Apple also announced an updated stylus called the Apple Pencil Pro for $129.

The new iPad models use a new Apple chip called the M4, an update from the M3 chips that currently power Apple laptops. Apple said the M4 chip is an “outrageously powerful AI chip,” citing as an example its ability to help power software that isolates objects from their origins in videos.

“This stunning design and revolutionary display require us to make the leap to Apple’s next generation of silicon,” said John Ternus, Apple’s executive director of hardware.

Apple’s new iPad Pro from behind.

CNBC/Todd Haselton

Apple said its iPad Pro tablets will use a new type of display called OLED – the same technology Apple uses on its iPhones – and that the new tablets will be brighter and with more vibrant colors than older models. The company also said it developed a technology called “tandem OLED” to create the screens, which are branded as Ultra Retina XDR.

The company added that the iPad Pro could be a useful tool for professional video producers and announced a new app called Final Cut Camera that can control multiple iPhone cameras. The iPad Pro comes with a 12-megapixel rear camera that can record 4K video, according to Apple. The company also announced an update to the camera’s flash, which should make it easier to scan documents.

The new tablets and accessories are now up for pre-order and will go on sale next week.

Apple’s iPad Air starts at $599 and has been updated with a faster M2 chip.

CNBC/Todd Haselton

Apple said the iPad Air will come in two sizes: an 11-inch size that matches older models, and a larger 13-inch model. Both are equipped with Apple’s M2 chip. The smaller iPad costs $599 for 128GB of storage, and the larger iPad starts at $799.

Apple also moved the front camera to the longer side of the device – landscape mode – to be better for video conferencing, matching Apple’s more expensive iPad Pro models.

The iPad Air will be available in stores next week and is available in a variety of colors, including blue, purple, and gold.

Apple also dropped the price of its entry-level iPad to $349, down from the previous price of $429.

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