Apple’s next iMac has reached an “advanced stage of development,” according to Apple Bloombergis Mark Gurman. In today’s newsletter, Gurman said the new iMac will have the same 24-inch display size and color options as the current model.

According to Gurman, the new iMac will likely feature Apple’s upcoming M3 chip, internal design changes, and a new manufacturing process for the stand. The M3 chip will reportedly be manufactured using Apple’s chip manufacturing partner TSMC’s latest 3nm process for additional performance and power efficiency improvements.

Apple last updated the iMac in April 2021 with the M1 chip and an ultra-thin body that comes in seven colors including green, yellow, orange, pink, purple, blue, and silver. It’s currently the only iMac in Apple’s lineup, as the Intel-based 27-inch iMac and iMac Pro have both been discontinued in the last two years. Gurman previously claimed that a larger iMac could return, but he didn’t share any new information about that possibility today.

Gurman expects the new iMac to be available in the second half of 2023 at the earliest.

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