Apple Has a Lot Riding on New Laptop

Apple (AAPL Quote - Cramer on AAPL - Stock Picks) hopes to get a badly needed shot in the arm Tuesday when it takes the wraps off of its eagerly awaited next-generation notebooks.

The stock has taken a pounding during the current economic crisis, including a sharp drop following a false media report that founder Steve Jobs had suffered a heart attack.

Apple has kept details of Tuesday's mini-laptop event under wraps, creating plenty of buzz.

Kevin Keller, a hardware analyst at the technology research firm iSuppli, said it's unlikely the launch will be a game changer because of the current slowdown in demand for PCs and laptops. "I don't see a tremendous wave there, frankly," he said. "It's a fairly saturated market."

Apple will find itself competing with Asus, Dell (DELL Quote - Cramer on DELL - Stock Picks), H-P (HPQ Quote - Cramer on HPQ - Stock Picks), Lenovo, Intel (INTC Quote - Cramer on INTC - Stock Picks), MSI and others who are touting mini-laptop computers selling for less than $500.

Still, Apple may have some MacBook tricks up its sleeve. If the rumors are correct, the launch will feature a low-cost $800 notebook and an aluminum casing technology code-named Brick.

The launch of a low-cost notebook would close a gaping hole in the company's product portfolio. Apple's lowest-priced laptop is $1,099, and it has typically charged higher prices than comparable Windows-based computers.

Apple hopes to use the launch to get a jump on its rivals for the holiday season. "It's a good idea to get this in ahead of the holiday season," said Doug Bell, a research analyst at IDC. "Having a low-cost option is a good defense mechanism against low consumer confidence."

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