Apple Announcement Gives a much needed Boost to the Stock

Published on Wednesday, 01 September 2010 15:58 Written by Danny Miller

New York, Sep 1^st (TradersHuddle.com) – Although Apple (NASDAQ:AAPL) shares were strong today, as the market is rallying on upbeat economic news from Asia and improved manufacturing activity here in the US, it was evident that shares received an added boost after Steve Jobs unveiled a new set of products during the Apple conference earlier today.

Steve Job’s presentation focus on several product updates before unveiling the new Apple TV, which it now appears to be a serious attempt from the tech giant to marry the web and TV. The first item in the presentation was a new iPod Nano that is 46% smaller with 24 hour battery life.

The IPod Shuffle also got a re-make, as Apple finally listened to feedback from runners that complained about the current shuffle lack of buttons that was controllable from the earphones. Now Apple’s new shuffle returns to the buttons in the device including other enhancements like genius, battery life and different play lists.

The IPod Touch also got a re-make, as Apple will now ship the product with two cameras, just like the iPhone 4G, which allow to have facetime over Wifi.

Before unveiling the Apple TV, Jobs also introduced a new iTunes 10 that includes social networking features.

There has been several attempts by multiple players including Google (NASDAQ:GOOG) to develop a product that is able to capitalize the intersection of the Digital world with the TV. Even Apple’s previous Apple TV tanked, as it didn’t grab much attention with consumers.

The new Apple TV is a quarter of the size of the previous , and it looks like a hockey puck will now give consumers the ability to rent TV shows for 99 cents or first-run movies for $4.99 each. It will also carry Netflix streaming capability, after Apple reached a deal with the Video rental company. Shares of Netflix (NASDAQ:NFLX) also had a nice push to the upside on the news. For now it appears that Apple’s model will center on the rental and not selling of videos.