Apple, Microsoft, Clearwire: Tech Winners & Losers

NEW YORK ( TheStreet) -- Shares of Apple ( AAPL) shares rose after the company sent out invites for a media event on Oct. 23 earlier this afternoon.

The event, which is being held at The California Theater in San Jose, Calif., is expected to feature the launch of a smaller version of the company's iPad tablet product, the so-called iPad Mini, as well as several potential product line refreshes.

The tagline on the invite is "We've got a little more to show you." TheStreet plans to attend the event next week and provide live coverage.

The iPad Mini is anticipated to be a 7.85-inch tablet vs. the 9.7-inch form factor for the iPad. Apple could also unveil new MacBook Pros, a new iMac and a new Mac Mini.

The stock was up 2.4% to $649.72 in recent trades with volume exceeding 17 million.

Microsoft's ( MSFT) stock was down slightly after the pricing details for its Surface tablet product were leaked and then confirmed by the company itself.

Without a Touch Cover, the 32 gigabyte version of the Surface tablet will cost $499. If you want the cover, it's an additional $100. A 64 gigabyte version of the Surface bundled with a cover will cost $699. The 64 gigabyte version of the new iPad costs $699 as well.

Microsoft plans to begin selling the Surface on Oct. 26, three days after Apple's iPad Mini event. The stock was down a penny at $29.50 in late trades.

MKM Partners, which has a neutral rating on Microsoft, also previewed the company's quarterly report Tuesday, saying "We believe investors are braced for a difficult quarter in front of Windows 8 launch on October 26 given underlying PC weakness." The firm reiterated its neutral call, lowered earnings estimates and trimmed its price target on the Dow component to $32 from $35.

Clearwire ( CLWR) shares lost more than 17% after a report indicated the deal between Sprint ( S) and Softbank is unlikely to lead to a buyout of Clearwire, which is majority-owned by Sprint.

Citing undisclosed people familiar with Sprint's thinking, Bloomberg said Sprint has "no immediate plans" to acquire the rest of Clearwire and that the top priority is closing on the $20.1 billion investment from Softbank, a process that's expected to take six to eight months.

Interested in more on Clearwire? See TheStreet Ratings' report card for this stock.

-- Written by Chris Ciaccia in New York

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