Apple iPad story updated with the latest stock price.
Apple says it will delay the international launch of its iPad tablet device for a month due to supply shortages.
The Mac maker says it has sold a half million iPads in the first week since the device's debut on April 3. But due to the strong U.S. demand and hefty pre-orders of 3G iPads, Apple said it's forced to delay the introduction of the iPad overseas."Faced with this surprisingly strong U.S. demand, we have made the difficult decision to postpone the international launch of iPad by one month, until the end of May," Apple said in a press release Wednesday. Toshiba: Getting Ahead of the Market (Forbes) Sounds like a raging success, unless you consider that Apple has reportedly again switched its iPad touch-panel suppliers in recent weeks, leaving the company possibly ill-prepared to supply the entire initial rush of iPad buyers. So instead of finding fault with its own production management, Apple turned the table and blamed the robust demand for the device. The countless international buyers waiting for their shot at the iPad will likely be disappointed by the delay, said Apple. "But we hope they will be pleased to learn the reason -- the iPad is a runaway success in the U.S. thus far," the company added in its release. The upbeat spin on iPad delays abroad and the thin air at Apple's lofty levels helped push the shares up more than $3 to a new all-time high of $245.51 in early trading Wednesday. But by the afternoon, Apple shares had retreated slightly to $245.30. --Written by Scott Moritz in New York
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV