"With more than 120 million iPads sold, it's clear that customers around the world love their iPads, and every day they are finding more great reasons to work, learn and play on their iPads rather than their old PCs," said Philip Schiller, Apple's senior vice president of worldwide marketing, in a statement.
The new 128GB versions of the fourth-generation iPad will be available Feb. 5. The Wi-Fi model will cost $799, and the Wi-Fi + cellular model will run $929.
Apple shares ended the week up 3.1% at $453.62.
Yahoo! (YHOO - Get Report) reported fourth -quarter and fiscal 2012 results after market close on Tuesday. The Sunnyvale, Calif.-based company reported an annual revenue increase for the first time in four years, with sales increasing 2% year over year. Yahoo! also beat Wall Street's expectations, much to the delight of investors. Excluding items, Yahoo! earned 32 cents a share on $1.22 billion in revenue during the fourth quarter. Yahoo! revenues exclude traffic acquisition costs (TAC). Analysts were looking for earnings of 28 cents a share on $1.21 billion for the quarter. TheStreet's Chris Ciaccia said that Yahoo!'s results suggest that CEO Marissa Mayer is pushing the company in the right direction. Yahoo! shares fell 3.0% during the week's trading to close at $19.76.
Qualcomm (QCOM - Get Report) surged on Wednesday after the chipmaker blew past Wall Street's fiscal first-quarter estimates and offered robust second-quarter guidance. The San Diego-based firm reported revenue of $6.02 billion, a 29% increase from a year earlier and well above analysts' forecast of $5.9 billion. Excluding items, Qualcomm earned $1.26 a share, a rise of 30%. Analysts surveyed by Thomson Reuters were looking for earnings of $1.13 a share. Qualcomm shares gained 4.82% during the week's trading to close at $66.73 on Friday.
Amazon (AMZN - Get Report) posted a 22% fourth-quarter revenue hike on Tuesday, but missed Wall Street's earnings estimate. The online retailer earned 21 cents a share on $21.27 billion in revenue, compared to earnings of 38 cents a share and sales of $17.43 billion in the prior year's quarter. Analysts surveyed by Thomson Reuters were looking for earnings of 28 cents a share and revenue of $22.26 billion. Amazon shares slipped 6.7% to $265 during the week's trading.
Tech earnings season slows down considerably next week, with LinkedIn (LNKD) and Cognizant (CTSH) amongst the firms on deck. Sprint (S) also reports its fourth-quarter results early on Wednesday. Enjoy the weekend, everyone! -- Written by James Rogers in New York. Follow @jamesjrogers >To submit a news tip, send an email to: firstname.lastname@example.org.