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Verizon iPad Hits Stores This Month

Verizon iPad story updated with share price information.

NEW YORK ( TheStreet) -- Verizon (VZ - Get Report) and Apple (AAPL - Get Report) have finally agreed on something.

While the Verizon iPhone continues to be a mystery, the Verizon iPad situation has been solved. Apple iPads will be arriving Oct. 28 in Verizon stores, the two companies said Thursday.

In a separate release, AT&T also announced it would start selling the iPad in its stores on the 28th, marking the first time the iPad is available for purchase at its retail outlets.
Verizon iPad

The move confirms reports here last month that the impasse over the iPhone may be softening as iPad plans at Verizon ramp up.

Apple is likely eager to get as many iPads as it can into the market for the holidays while it still enjoys almost no competition in the tablet computer market. "We're thrilled to be working with Verizon Wireless to get iPad into the hands of even more customers this holiday season," Apple COO Tim Cook said in a press release.

Verizon said it will sell the iPad as a bundle with a separate MiFi 3G antenna at $630 for the 16-gigabyte memory device and $830 for the 64-Gig model.

For the data service plan, Verizon said it will sell its MiFi service for $99 on a two-year contract basis and also offer a $20 a month contract-free option.

By comparison, AT&T created a special iPad data plan earlier this year that starts at $15 a month.

For investors, not only does this feed Apple momentum, it adds a new player to the mix with Novatel (NVTL), the maker of Verizon's MiFi hotspot device.

Apple shares hit another all-time high earlier in the day of $302.20 and Novatel, which surged 7% shortly after the announcement, was up 56 cents, or 5.7%, to $10.39 in late-day trading. Verizon shares remained relatively steady during the day, trading around $32.40.

--Written by Scott Moritz in New York.

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NVTL $4.58 1.55%
AAPL $95.18 0.00%
T $38.91 0.00%
VZ $50.68 0.00%
FB $117.43 0.00%


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