This Day On The Street
Continue to site
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

Apple Unveils iPad 2

NEW YORK ( TheStreet) - Apple (AAPL - Get Report) 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.

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
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!
SYM TRADE IT LAST %CHG
AAPL $132.65 1.82%
FB $81.91 0.47%
GOOG $555.37 -1.71%
TSLA $231.55 6.01%
YHOO $44.36 -0.36%

Markets

DOW 18,037.97 -42.17 -0.23%
S&P 500 2,108.92 -8.77 -0.41%
NASDAQ 5,060.2460 -31.8390 -0.63%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs