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Nobody knows except Apple. But by the time you can get it, the "wait for M6?" threads will be flying... as the "wait for M4 threads?" were not so long ago... and the "wait for m3?" threads before them.

The next new chip is ALWAYS coming. Buy when you need a computer. Else, you will forever be waiting for the next "latest & greatest" not too far down the road. There's always another one coming soon.
 
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What is your use case? Are you needing the latest and greatest?

Will the current generation do what you need it to? Or will an M1 do all you need it to do?

I find with my use case my M1 does all I need it to do and so does my 2015 MacBook Pro too, albeit I miss the AI.
 
M5? No way, man, M6 is where it's at. But only if you can't wait for the M7. If you're a real professional, only the M8 will do, though.

Buy what you need, quantitatively, to do actual work when you need to do that actual work. Anything else is a lifestyle device.
 
there are good deals out there for the M3/M4. Some software and hardware improvements with the M4. will the M5 be more of a tweak, or something worth waiting for?

The Buyer's Guide is your friend for questions like this.

But long story short... rumors indicate it'll most likely be a bump up. The M4 was already a pretty significant step up with TB5 ports being introduced.
 
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M5? No way, man, M6 is where it's at. But only if you can't wait for the M7. If you're a real professional, only the M8 will do, though.

Buy what you need, quantitatively, to do actual work when you need to do that actual work. Anything else is a lifestyle device.
The M8 will be where AI truly shines. They’re actually planning to call it the “mate” chip because it’ll be so good by then.

I can hear it now; “Hey Mate, what’s tomorrow’s weather?”
“Here’s some links on the web about Tomoe’s Feather.”
 
M5? No way, man, M6 is where it's at. But only if you can't wait for the M7. If you're a real professional, only the M8 will do, though.

Buy what you need, quantitatively, to do actual work when you need to do that actual work. Anything else is a lifestyle device.
I have m4, probably going to upgrade to m8
 
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