NEW YORK (TheStreet) -- The technology sector experienced its busiest week perhaps in decades, as Apple (AAPL) and Microsoft (MSFT) had major product releases, while several tech companies released earnings.
Apple was the talk of the sector, as it is almost every week, unveiling its long-awaited iPad mini and a host of other products on Tuesday. "Others have tried to make tablets smaller than the iPad, and they have failed miserably," said Phil Schiller, Apple's senior vice president of worldwide marketing.
I had the chance to play with the iPad mini during the event, and the device is certainly worth its $329 price tag.The iPad mini has a screen size of 7.9 inches, significantly larger than the smaller tablet offerings from competitors. It's 49% larger than a standard 7-inch tablet, when viewed in a portrait setting, and 67% larger in landscape mode, Schiller said during the presentation. Pricing for the device starts at $329, and preorders started Friday at midnight, with the white version quickly selling out. Apple iPad Mini: First Impressions In addition to the iPad mini, Apple unveiled a fourth-generation iPad and new versions of its iMac, 13-inch MacBook Pro and Mac mini. See here for ship dates and pricing of the new products. > > Bull or Bear? Vote in Our Poll
In addition to the iPad mini event, Apple announced fourth-quarter earnings on Thursday, which were mixed compared to Wall Street expectations. For the three months ended Sept. 30, Apple earned $8.67 a share on revenue of $36 billion. The average estimate of analysts polled by Thomson Reuters was for earnings of $8.75 a share on revenue of $35.8 billion. Apple CEO Tim Cook demonstrated a much feistier tone on the conference call than in the past, defending the iPad mini price point and taking shots at competitors. The CEO said that he has not played with the Microsoft Surface tablet, but said he has heard that it's "a fairly compromised and confusing product." Tim Cook Launches 'Surface' Attack: Apple Live Blog Recap Apple generally provides guidance lower than Wall Street's expectation, and that was the case with its all-important first-quarter outlook. The tech giant said it expects first-quarter earnings of $11.75 a share on $52 billion in revenue. Wall Street analysts are currently looking for $15.41 a share in earnings and $55 billion in revenue. Apple shares lost 1.0% this week to close at $604.00.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Jim Cramer + 20 Wall Street pros
- Intraday commentary & news
- Real-time trading forum
- Actionable trade ideas
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV