Microsoft (MSFT) - Get Report announced a new Surface laptop, laptop-tablet hybrid and tablet at an event in New York City on Wednesday. Significantly, it also previewed two new foldable devices with dual screens, the book-sized Surface Neo and the smartphone-sized Surface Duo, that will both be available for the holidays in 2020. 

The Neo will be powered by a new OS, Windows 10X, designed specifically for dual-screen devices, while the Duo will run on a version of Android developed by Alphabet's  (GOOGL) - Get Report Google. Microsoft said the two products were being previewed in order to give developers time to become familiar with the new form factors and features. 

The tech giant said the new Surface Laptop 3 is powered by a quad core Intel (INTC) - Get Report chip that it claims is twice as fast as the previous generation and three times faster than Apple's (AAPL) - Get Report MacBook Air. It also features fast charging that can charge the laptop 80% in under an hour. The company also said that it will be more serviceable and repairable than previous versions.

The 13-inch Surface Laptop 3 will start at $999 while the 15-inch will start at $1,199. Both are available for pre-order starting Wednesday and will be available for sale starting Oct. 22.

Microsoft also announced a new version of its popular hybrid laptop-tablet product, the Microsoft Surface Pro 7. The device has a starting price of $749 and is available for pre-order Wednesday and will be available for sale on Oct. 22. Microsoft also announced new Surface Earbuds that work on any platform and have 24 hours of battery life and are controllable using just gestures. The new earbuds will be available later this year starting at $249.

The Surface Pro X table will feature three times more performance per watt than the Surface Pro 6 and will be powered by a Qualcomm (QCOM) - Get Report chip.

Microsoft shares were down 2.2% to $134 on Wednesday following the event. Microsoft shares have risen roughly 34% this year.

Microsoft, Apple and Alphabet are holdings in Jim Cramer'sAction Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells these stocks? Learn more now.

Save 57% During Our Fall Sale. Join Jim Cramer's Action Alerts PLUS investment club to become a smarter investor. Click here to sign up and save!