This Day On The Street
Continue to site
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

Apple Hits Record High on iPad News

Updated with closing share price and information about Apple's record high.

CUPERTINO, Calif. ( TheStreet) -- Apple's (AAPL - Get Report) stock hit a record high on Friday after the tech bellwether said that its eagerly-anticipated iPad will make its U.S. debut on April 3.

The consumer technology giant said that Wi-Fi models will be available on April 3 and that Wi-Fi + 3G will be available later in the month. U.S. consumers will be able to pre-order the devices a week from today, on March 12, or reserve a Wi-Fi model to pick up at an Apple retail store on April 3.
Apple's iPad
Apple's iPad

Apple's shares closed up $8.24, or 3.91%, at $218.95 on Friday as investors responded to the iPad news. Earlier in the day the stock had hit a record high of $219.70. The company's stock easily outpaced the broader technology market, as the Nasdaq gained 1.26% over the same period.

The Silicon Valley firm had originally planned to launch the Wi-Fi version of the iPad worldwide in late March, with the Wi-Fi and 3G offering available in April in the U.S. and selected countries. There have been rumblings, however, of iPad production delays and reduced initial shipments, although the DigiTimes Web site reported this week that Apple manufacturing partner Foxconn should be able to ship 600,000-700,000 iPads in March and a further million units in April.

Foxconn has not yet responded to TheStreet's request for comment on this story.

Priced from $499, Apple hopes the touchscreen iPad will grab share from the netbook market. The iPad has attracted vast amounts of media attention since it was unveiled in a blaze of publicity earlier this year.

Still, the iPad faces challenges, and critics have questioned exactly where the iPad will fit in the technology landscape.

Apple itself, not to mention the many zealots who are fans of its technology, has high hopes for the device. With high-definition video and touchscreen capabilities, the iPad has been lauded as a high-end e-reader -- among other things -- and Apple appears keen to usurp the likes of Comcast (CMCSA - Get Report) and Time Warner Cable (TWX) as a media hub.

Analyst firm Goldman Sachs forecasts that Apple will sell 6 million iPads during calendar 2010, although Wall Street consensus is around the 5 million mark.

Technology research firm Gartner is somewhat less bullish, and recently predicted 4.2 million iPad sales for this year.
1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr 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

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $94.19 -1.04%
CMCSA $60.89 -0.10%
FB $118.06 0.54%
GOOG $695.70 0.48%
TSLA $222.56 -4.20%


Chart of I:DJI
DOW 17,651.26 -99.65 -0.56%
S&P 500 2,051.12 -12.25 -0.59%
NASDAQ 4,725.6390 -37.5850 -0.79%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs