Apple Inc. is targeting a date on or near March 8 to unveil a new low-cost iPhone and an updated iPad, according to people with knowledge of the matter, kicking off a potentially record-setting year for product launches.

The announcement will mark Apple¡¯s first major event since a new MacBook Pro debuted in October. Like the company¡¯s other recent launches, it¡¯s expected to be an online presentation rather than in-person, said the people, who asked not to be identified because the deliberations are private.

Apple is coming off a holiday quarter that far exceeded Wall Street predictions, helping quell fears that supply-chain problems would hurt sales. Now the company is setting its sights higher for 2022. The March announcements ¡ª along with the usual flood of product news expected later in 2022 ¡ª suggest Apple will introduce its biggest crop of new devices ever in a single year.