Apple rises as investors look forward to fifth generation iPad
Shares of Apple, Inc (NASDAQ:AAPL) advanced more than 2.4 percent to $521.30 as investors look ahead to the unveiling of the fifth generation iPad Tuesday. Apple CEO Tim Cook is expected to introduce not only the next-gen iPad, but also a high-definition iPad Mini.
The new iPad is expected to borrow heavily from Apple’s latest iPhone 5s, which the company described as the “gold standard” of iPhones. Investors and consumers can expect a new 64-bit A7 processor to come with the thinner iPad, as well as several other product upgrades that might include a fingerprint scanner and a new 8MP camera. The iPad Mini will feature speed and performance improvements, and could include a new Retina display. The Mini has become Apple’s most successful iPad ever, accounting for 60 percent of total tablet sales.
Investors were underwhelmed by the latest iPhone release, despite sales reaching 9 million in the opening weekend. The world’s largest technology company will need to wow investors in order to solicit a stronger reaction on the trade floor. The company has fallen off considerably from a year ago when the markets were eyeing $1,000 a share. Despite considerable product upgrades for the iPhone and iPad, slimmer and faster devices won’t be enough to excite investors.
The maker of the iPhone and iPad will have to make the case its new tablet is more than just a convenient web browser, but a device suitable for content creation. Apple will have to show investors the iPad could be a suitable replacement to the laptop.
Apple will face more pressure to innovate, and develop products that mirror the first launch of the iPhone and iPad. The company is being gradually overtaken in the mobile arena, as Android devices continue to lead market share. For this reason, we could expect something completely new from Apple over its next several product launches, beginning Tuesday with the unveiling of its fifth generation iPad.
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