Apple May Unveil Updated IPad on March 2 in San Francisco
Apple May Unveil Updated IPad on March 2 in San Francisco
George Frey/Bloomberg
A customer demonstrates Apple Inc.'s App Store on an iPad tablet computer at a Best Buy store in Orem, Utah.
A customer demonstrates Apple Inc.'s App Store on an iPad tablet computer at a Best Buy store in Orem, Utah. Photographer: George Frey/Bloomberg
Feb. 23 (Bloomberg) -- Ashok Kumar, analyst with Rodman & Renshaw LLC, and Michael Sansoterra, co-manager of Ridgewood Large Cap Growth Fund, talks about the outlook for Apple Inc. They speak with Carol Massar and Matt Miller on Bloomberg Television's "Street Smart." (Source: Bloomberg)
Feb. 23 (Bloomberg) -- Jennifer O'Dell of the Laborers' International Union of North America, talks about today's rejection by Apple Inc. investors of a proposal from the union that would have forced management to disclose executive succession plans. Under the executive succession proposal, Apple's board would have been asked to disclose plans for replacing Chief Executive Officer Steve Jobs and explain how it’s nurturing the executive team under him. Jobs, who is currently on medical leave for the third time in the past seven years, didn’t attend the annual meeting. O'Dell speaks with Matt Miller and Carol Massar on Bloomberg Television's "Street Smart." (Source: Bloomberg)
Feb. 23 (Bloomberg) -- Lawrence "Larry" Haverty, portfolio manager for Gamco Investors Inc., talks about the performance of Apple Inc. and the relationship with investors. Shareholders today rejected a measure that would require Apple’s directors to disclose plans for replacing Jobs and explain how it’s nurturing the executive team under him. Jobs, who is currently on medical leave for the third time in the past seven years, didn’t attend the meeting. Haverty speaks with Mark Crumpton on Bloomberg Television's "Bottom Line." (Source: Bloomberg)
Apple Inc., the world’s biggest technology company by market value, may unveil its new iPad tablet computer at an event March 2 in San Francisco.
An Apple invitation sent to reporters today with the image of a corner of an iPad, says, “Come see what 2011 will be the year of.” The event will be held at 10 a.m. local time.
The original iPad went on sale April 3, and Apple sold almost 15 million units through its first fiscal quarter, which ended Dec. 25. The device accounted for 17 percent of revenue in the period, compared with 39 percent for the iPhone, which first reached the market in 2007.
The timing of the March 2 event would put the iPad on an annual cycle of updates similar to those of the iPhone and iPod media player, and keep Apple ahead of competitors, said Scott Sutherland, an analyst at Wedbush Securities Inc. in San Francisco.
“The tablet becomes the next growth starter for the next two years for Apple,” said Sutherland, who rates Apple shares “outperform” and doesn’t own any. The company is releasing a second edition while many competitors are introducing their first tablets, he said.
Motorola Mobility Holdings Inc.’s Xoom tablet will be available tomorrow, and Research In Motion Ltd. plans to release four versions of its PlayBook this year.
Battery Life
Mike Abramsky, an analyst at RBC Capital Markets in Toronto, said in November that Apple may introduce a thinner iPad in the first half of 2011. Richard Doherty, director of consulting firm Envisioneering Group in Seaford, New York, said today he expects the updated iPad to offer longer battery life and front- and rear-facing cameras.
Apple is boosting its sales force to focus on burgeoning demand from business customers, particularly for the iPhone and iPad, Chief Operating Officer Tim Cook told a shareholders’ meeting today.
“We’ve never seen anything like this before,” Cook said.
Apple, based in Cupertino, California, rose $4.01 to $342.62 at 4 p.m. New York time in Nasdaq Stock Market trading. The shares have gained 6.2 percent this year.
To contact the reporter on this story: Olga Kharif in Portland, Oregon, at okharif@bloomberg.net
To contact the editor responsible for this story: Tom Giles at tgiles5@bloomberg.net.
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