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 iPad 2

NEW YORK (TheStreet) - Apple (AAPL) CEO Steve Jobs took the stage at an event in San Francisco Wednesday to a cheering crowd to unveil the newest version of its popular iPad tablet.

"I didn't want to miss today," said Jobs, who took a medical leave from Apple in January for health reasons.

The iPad 2 was unveiled Wednesday.

The second generation of the iPad, dubbed the iPad 2, is a slimmer, lighter and faster version of the previous device, Jobs said. The new tablet is thinner than the iPhone 4, and runs on a dual core A5 processor that is up to two times as fast than the original iPad.

The device also features both rear-facing and front-facing cameras for FaceTime, as well as a 10-hour battery life. It will come in both white and black, and will run on Verizon's (VZ) and AT&T's (T) 3G networks.

The iPad 2 will be powered by iOS 4.3, the latest version of Apple's operating system, and will be available on March 11 in the U.S. starting at $499 for the 16GB WiFi-only version. It will begin shipping in more than 25 additional countries on March 25.

The Cupertino, Calif.-based electronics maker has sold around 15 million iPads since launching last April, generating over $9.5 billion in 2010.

Analysts predict sales of the iPad 2 could top 30 million in 2011.

Overall tablet sales are predicted to explode this year, with Gartner forecasting 54.8 million devices could be purchased, up from 19.5 million in 2010.

Apple is launching the iPad 2 as a host of other manufacturers are rolling out similar devices. Motorola (MMI) unveiled its Google (GOOG) Android-powered Xoom Tablet last week, and Research in Motion (RIMM) has also announced plans for its PlayBook device sometime this year.

Shares of Apple rose 0.7% in afternoon trading Wednesday to $351.83.

--Written by Olivia Oran in New York.



>To follow the writer on Twitter, go to http://twitter.com/Ozoran.

>To submit a news tip, send an email to: tips@thestreet.com.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

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.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
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!
DOW 16,919.59 +80.85 0.48%
S&P 500 1,981.60 +9.86 0.50%
NASDAQ 4,527.5140 +19.2020 0.43%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

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