New iPad Will Be Revealed in a Few Weeks

Apple (NASDAQ:AAPL) is set to unveil two versions of its next-generation iPad at the iWorld scheduled for January 26, 2012, according to sources at its supply chain partners. Along with the existing iPad 2, the two new models complete Apple’s iPad series targeting the entry-level, mid-range and high-end market segments, sources claimed.

The iPad 2 will compete directly with Amazon’s (NASDAQ:AMZN) kindle Fire in the price-sensitive market segment.  The two new models will focus on the mid-range and high-end segments respectively. Apple officials declined to comment.

Previously-rumored to have 7.85-inchscreens, the upcoming iPad models will still feature 9.7-inch screens, with QXGA resolution (1,536×2,048 pixels). Sources say the new ipads will use Dual-LED light bars to strengthen the brightness of the panels.

Here’s how Apple and Amazon are trading on the news:

Apple Inc. (NASDAQ:AAPL): AAPL shares recently traded at $401.52, down $1.12, or 0.28%. They have traded in a 52-week range of $310.50 to $426.70. Volume today was 2,043,379 shares versus a 3-month average volume of 16,562,200 shares. The company’s trailing P/E is 14.51, while trailing earnings are $27.68 per share.

Amazon.com Inc. (NASDAQ:AMZN): AMZN shares recently traded at $169.40, down $4.49, or 2.58%. They have traded in a 52-week range of $160.59 to $246.71. Volume today was 2,594,404 shares versus a 3-month average volume of 6,743,630 shares. The company’s trailing P/E is 89.30, while trailing earnings are $1.90 per share.

To contact the reporter on this story: Jim Wilkerson at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com