NEW YORK (TheStreet -- Amazon (AMZN) briefly took the tech spotlight off Apple (AAPL) this week, unveiling new Kindle e-reader and Kindle Fire tablet products at a glitzy event in Santa Monica, Calif.
As anticipated, Amazon launched a larger-screen version of the Kindle Fire on Thursday. Whereas the previous Kindle Fire offered a 7-inch display, the large-screen Kindle Fire HD comes with an 8.9-inch display. The device, which is available in both Wi-Fi-only and 4G LTE versions, comes with 16 GB, 32 GB or 64 GB of on-device storage.
A 7-inch Wi-Fi version of the Kindle Fire HD also made its debut, offering 16 GB or 32 GB of storage.
Keen to put a dent into Apple's dominance in the tablet market, Amazon CEO Jeff Bezos said that his company "wants to make the best tablet at any price," during the launch event.> > Bull or Bear? Vote in Our Poll The Amazon chief also reiterated his desire to drive dollars through services delivered via gadgets such as the Kindle Fire HD. ""People don't want gadgets, they want services," he said, during his presentation. "They want services that get better over time. Kindle Fire is a service." While Amazon vastly improved its tablet and e-reader offerings this week, TheStreet's Chris Ciaccia was skeptical about the company's ability to seriously challenge Apple, particularly in the high-end tablet space. Amazon shares ended the week up 5.45% at $259.14.
As always though, Apple grabbed its share of headlines, sending out invites to a major press event taking place in San Francisco next week. The event is slated for Wednesday, Sept. 12, at the Yerba Buena Center for the Arts Theater in San Francisco. TheStreet will be in attendance and plans to live-blog all the speeches and product introductions. True to form, Apple gave little away about the event on the company's invite, which declares "it's almost here" and the number "12" on a plain white background. Intriguingly, however, the 12 casts a shadow that resembles the number 5. Rumors about the event have swirled for months. Speculation, in particular, has focused on the potential features of a new iPhone 5, which could include 4G LTE capabilities and a larger screen than the existing model. There has also been chatter that Apple may unveil a smaller version of the iPad, dubbed an iPad Mini, around the time of its iPhone launch. In other Apple-related news, a rumor about the tech giant's entry into the music streaming space hammered shares of Pandora Media (P) on Friday. Apple shares ended the week down 2.61% at $680.44.
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