Apple Recap: New iPad, Damp Squib, High Hopes
Apple (NASDAQ:AAPL) rose 1.88 percent on Tuesday to $458.27 after announcing the launch of a brand new iPad. Here are the top stories that affected the stock on the day:
Apple’s Latest iPad
Apple quietly added a new tablet to its lineup on Tuesday, announcing the launch of a 128GB version of the fourth-generation iPad. The latest unit, which doubles the storage capacity of the largest iPad model currently in the market, will be available in both Wi-Fi-only and cellular capabilities. It goes on sale on February 5. The fourth generation of Apple’s full-sized, or 9.7-inch, iPad lineup now has four different capacities, starting at 16GB for the entry-level model. The iPad mini still offers 64GB as the maximum capacity. The new model has all the features of its other fourth-generation cousins, including a 9.7-inch Retina display, FaceTime HD camera, and an A6X processor. The high price tags of $799 for the WiFi-only version and $929 for the one with added cellular functionality will definitely relieve some worries about the company’s falling gross margins… (Read more)
Cramer Isn’t Impressed
Investment specialist Jim Cramer said on CNBC that the newly launched iPad was neither a very coveted product nor likely to provide Apple’s stock the momentum it needed right now. “I’m sure this is a good product, but I know I don’t need one,” he said. “I think it’s great they have a new product. GE (NYSE:GE) probably has some new products, too.”
Crushing High Hopes
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