The Apple Support document includes a lot of in-depth information relating to Lossless audio as well as a frequently asked questions section.
Within that section, Apple confirms that Lossless audio will be introduced to HomePod and HomePod mini under the “Can I listen to lossless audio on my HomePod or HomePod mini?” question.
HomePod and HomePod mini currently use AAC to ensure excellent audio quality. Support for lossless is coming in a future software update.
There is no timescale given for that update but it will music to a lot of ears that support will actually be coming to the hardware. Additionally, the Support document also confirms what most of us already knew, that lossless audio will not be coming to Apple’s AirPods, AirPods Pro, or AirPods Max:
AirPods, AirPods Pro, AirPods Max, and Beats wireless headphones use Apple’s AAC Bluetooth Codec to ensure excellent audio quality. Bluetooth connections don’t support lossless audio.
If you are an owner of the AirPods Max and are disappointed by that news, then there is light at the end of the tunnel. Sort of. Apple has confirmed that AirPods Max owners can use the Lightning to 3.5mm Audio Cable to make the AirPods Max wired and get as close-as-possible to a lossless audio experience:
The Lightning to 3.5 mm Audio Cable was designed to allow AirPods Max to connect to analog sources for listening to movies and music. AirPods Max can be connected to devices playing Lossless and Hi-Res Lossless recordings with exceptional audio quality. However, given the analog to digital conversion in the cable, the playback will not be completely lossless.
For those looking forward to this Apple Music improvement, Apple Music Lossless and Doly Atmos will be launching this coming June and will include more than 20 million tracks that support lossless audio. Just make sure that you take a look at the linked Support document and understand the limitations and ramifications.