NEW YORK (TheStreet) -- Strictly speaking, there is more to new Apple (AAPL - Get Report) products than jazzy new features. Granted: set beside better resolution, or that new App to solve cold fusion, any mention of cost basis to Apple for the new features is drab. And Apple has, of course, never had a problem keeping margins flush. Moreover, calculating possible margins for a new Apple product is no easy lift. A large element of guesstimating must come into play.
Still: in reading coverage of Apple's unfurling of the new iPad, traders are hard pressed to find even a passing mention of shifting cost (one way or another) to Apple.
Forbes highlighted the lower sticker price for the new iPad, but nothing on its potential profitability. Investor's Business Daily mentioned the cost of a single component, but nothing larger. The Associated Press let us know what we already did: other companies--like Hewlett-Packard (HPQ - Get Report) --have trouble getting components at Apple's prices, but zero on trends in Apple's cost basis for its new tablet.To its credit, The Wall Street Journal put on its hip-high boots and waded into the difficult, yet essential topic: "Apple Inc. may be giving up a bit of profit margin because of the sophisticated display and other features in its new iPad, a research firm estimates in a preliminary cost analysis of components in the new tablet. UBM TechInsights on Thursday estimated a cost to Apple of about $310 for the components in a version of the new iPad that offers 4G wireless connections and 16 gigabytes of data storage, a model set to sell for $629. Those estimates would suggest a 51% gross margin, or the profit to Apple after materials costs." (This compares to a 56% margin at release time for the iPad2, 53% now.) Even if imperfectly, traders must, like the Journal, keep one eye on the jazzy new features and one on potential cost.