After trading down most of the day, Apple just exploded higher when the $499 entry-level price for the 16gig Ipad tablet reader was announced - literally HUNDREDS of dollars cheaper than expected.
Putting this device within a couple hundred dollars of the competition is a huge deal. Why pay a little less for an Amazon kindle when for $100 more you get Apple's elegant design and impressive technical edge?
Apple shares just jumped to $208 from about $200 an hour ago, while Amazon shares are off $3 from their intraday high, as Apple's aggressive pricing will wage war on their successful Kindle.
This thing looks ridiculous. Briefing is updating from the presentation:
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