Apple Leads Tech Rally on New Product Speculation

Published on Tuesday, 19 January 2010 15:15 Written by Gerard Lerod

New York, January 19^th (TradersHuddle.com) – Shares of Apple were among the biggest gainers of the NASDAQ-100 as shares helped lead today’s tech rally, after Investors jumped on the stock on speculation that a new product launch could enhance the company’s earnings.

Apple shares were gaining 4.08% to $214.34, as they led the NASDAQ-100 index to gains of more than 1.47%.

The maker of iPhones and iPods jumped higher on speculation that on January 27^th the company will unveil its newest creation, the tablet version of its popular Mac computer. The company sparked the buzz as they sent out invitations to journalists for the unveiling of its newest product.

Tech analysts speculate that the tablet pc or like some call it the iPad will change the landscape for e-books and will compete against popular e-book readers like Amazon’s (NASDAQ:AMZN) Kindle and Sony's (NYSE:SNE) e-reader

Also there is speculation that Apple will also deliver magazines, movies and other video content to the new device, which will have a bigger screen that will be better suited for reading and watching videos.

The tablet pc will also have access to Apple’s successful iTunes and applications store, which will help enhance the company revenue as they will have another platform with other revenue streams.