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why is apple releasing a MBP with the old gen of pro chips (m4 pro)?

The M5 Pro refresh will come later. M4 Pro parts are still available until then.

> The M5 Pro refresh will come later.

Did they announce this or are you speaking for Apple?

They release the Pro and Max parts after the base part.

This has been their release strategy for past generations.

Does anyone have a guess on when they could be releasing a potential M4 Ultra Mac Studio?

I think they said M4 Ultra Studio is not going to happen, have to wait for M5 Ultra...

...they're not. This is a release of a 14" with the base M5, alongside the other existing M4 Pro/Max models.

The Pro/Max rollout tends to lag behind by about 6 months.