This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Apple Unveils the iPad

Stocks in this article: AAPL NOK SNE

CUPERTINO, Calif. ( TheStreet) -- Apple (AAPL - Get Report) CEO Steve Jobs unveiled the hotly anticipated Tablet device -- the iPad -- which will be available at the end of March at a range of prices, from $500 to $830.

At a press conference in San Francisco Wednesday, Jobs called Apple the world's No.1 mobile device maker, bigger in revenue than Nokia (NOK - Get Report). And in a surprise move, he named AT&T (T) -- and apparently not Verizon (VZ) -- as the iPad's 3G telco partner.

The stripped-down version of the iPad will cost $500 and comes enabled with WiFi connections only. The 3G verisons start at $630 and go up to $830. The 3G prices do not include a data service plan from AT&T, which go for $15 a month or $30 a month (for unlimited use).

AT&T shares jumped 3% to $26.01 and Apple's stock rose 2% to $209.75 immediately after the pricing was announced Wednesday.

Jobs called the iPad a new category of devices that can outperform laptops and smartphones by delivering Web browsing, pictures, videos, music, games and e-books.

Apple iPad
Steve Jobs unveils the new Apple iPad

As for battery life, Apple claims it will last ten hours between chargings.

The iPad is a half-inch thick and as presented, lands somewhere between a smartphone and a notebook. To keep the power consumption within manageable limits, Apple had to compromise the computing power of the device, says Northeast Securities analyst Ashok Kumar.

But Jobs demonstrated some of the high-definition video capabilities of the iPad, which help elevate the device above ereaders like Amazon's (AMZN) Kindle.

The glorified e-reader, however, opens a new chapter in Apple's grand plan to be a modern media hub.

For investors, it further reveals Apple's ambition to supplant Comcast (CMCSA), Time Warner Cable (TWC), AT&T (T) and Verizon (VZ) as a media distributor.

Stockpickr Answers
Who is actually going to buy the Apple tablet?

This is obviously a bold move, but network services are within Apple's reach.

The key development here is the content deals Apple has made with book and magazine publishers, and reportedly TV programmers. Like iTunes to music, Apple's text and video distribution deals will give the company superior footing against the e-book giant -- Amazon's Kindle.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,672.60 -141.38 -0.79%
S&P 500 2,051.82 -11.33 -0.55%
NASDAQ 4,757.8790 +7.4820 0.16%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs