Apple introduced the first-generation Apple Pencil in 2015. That is the one that has a cap at the end covering a Lightning connector, and you plug it into the Lightning port of an iPad to charge it. Awkward, but functional. In 2018, Apple introduced the second-generation Apple Pencil. It was a big step forward because that flat edge meant not only that it was less likely to roll off of a table but also it attached magnetically to the top/side of an iPad. Not only is that a convenient place to store the Pencil, but it also charges the Pencil. The second-generation Apple Pencil also added a new gesture: you can double-tap the side of the Pencil to change what the Pencil does. Now that so many years have passed, I have been wishing that Apple will introduce a third-generation Apple Pencil with even more new features.
Apple has not yet done that, but it did introduce a new entry-level Apple Pencil yesterday called the Apple Pencil (USB-C). At only $79 (compared to $99 for the first-generation Pencil and $129 for the second-generation Pencil), it is the least expensive Apple Pencil ever. The new Apple Pencil works with every iPad model that has USB-C: the iPad Pro 12.9" third-generation (released in 2018) and later; any model of the iPad Pro 11"; the iPad Air fourth-generation (released in 2020) and later; the iPad tenth-generation (released in 2022); and the iPad mini sixth-generation (released in 2021).
Unlike the other two models, this entry-level Apple Pencil lacks pressure sensitivity, so you cannot change the width of a brush depending upon how much pressure you apply on the iPad screen. Artists will miss that feature, but if you are just taking notes and annotating documents, that feature is not very valuable. I rarely ever use it myself.
The new Apple Pencil gets 50% of the design advantage of the side of the second-generation Apple Pencil. I say that because just like the second-generation model, this new model has a flat side and contains a magnet, so you can attach it to the side of an iPad for easy storage (plus that flat side makes it less likely that the Pencil will roll around on a table). That's good. But it is just a magnet, so the new Apple Pencil does not charge when it is attached to an iPad, nor does it wirelessly pair to an iPad by being attached to the iPad.
Instead of magnetic charging, the new Apple Pencil charges at the end, but does so in a way that seems better than the first-generation Pencil. With the original Apple Pencil, you remove a cap to charge via Lightning, and the cap could get lost. With this new Apple Pencil, you slide back back the cap (so it stays attached) to reveal a USB-C port. This is still far less elegant than charging when attached to the side of an iPad, but that is one of the trade-offs for saving $50.
The new Apple Pencil does support the hover feature of the second-generation Apple Pencil that was introduced with the 2022 version of the iPad Pro (the one with an M2 processor). However, it does not support double-tap to switch tools, which I think most folks would use more than hover. Frankly, if you have already spent the money on an iPad Pro, you would be much happier spending the extra $50 to get the second-generation Apple Pencil with both magnetic charging and double-tap support. Nevertheless, by adding hover support to this new Pencil, Apple is indicating that hover support is coming in the future to less-expensive models of the iPad.
Indeed, I think that a primary reason that Apple developed this new Apple Pencil is that it is a better solution for the least expensive iPad: the iPad (10th generation) introduced in 2022, which starts at $449. That iPad uses USB-C instead of Lightning but doesn't support the second-generation Apple Pencil. You can use the first-generation Apple Pencil but you have to use a USB-C to Lightning dongle to charge, which is an extremely awkward solution. All of this makes me wonder why this new Apple Pencil was introduced yesterday instead of on October 18, 2022, when the iPad (10th generation) was introduced. But hey, better late than never.
I love my Apple Pencil and use it almost every day to take handwritten notes, highlight and annotate documents, and more. But I frequently talk to attorneys and others who use an iPad and don't see a need for an expensive stylus. If that sounds like you, then perhaps the $79 selling price will make this the perfect Apple Pencil for you. You don't get the advanced features of the second-generation Apple Pencil (pressure sensitivity, magnetic pairing and charging, double-tap to change tools) but you do get a stylus that is made by Apple, so it is likely to work better than any third-party stylus, at the lowest price ever. I'm sure that this new Apple Pencil will do a great job for taking notes and annotating documents.
Meanwhile, I’ll continue to hope that Apple is working on an even better Apple Pencil (an Apple Pencil Pro?) with even more features.