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FBN's Shibani Joshi and Matthew Hoffman, Cowan and Company managing director of equity research, break down Apple's "New iPad."
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All guys apple just wrapped up its bit production event and my co anchor Shibani Joshi.
As -- live in San Francisco what the latest a body Billiton and.
Hi there Charles it's a lot like that the character pulled a march in Harry Potter.
He Shelton -- should not be named is now on the iPad that shall not be named as well it's stimuli -- it's not eight.
I've had three it's not be iPad HD but it does include.
Pretty much all the feature is that we were expecting it to include including a -- -- displayed in new I five X jet.
Eyesight tamraz like HE video recording capabilities voice dictation.
And the ability to access -- -- GL TE network that price that we learned through lab being in this presentation here 629.
Dollars for the four G sixteen gig model.
Don't want the fourteen -- at the starting prices for 99 they also lower the price of the iPad two to 399.
Backs.
Also unveiling a brand new version of the apple TV which -- support high definition video that was also expected.
Couple of updates to I work I -- But overall I think the biggest surprises that we didn't get the name iPad three HD.
But over -- and everything else is pretty much in line with what we are expecting and I am hearing.
That Apple's web site has been updated now with the ability to pre order the new iPad -- -- apple TV version.
Today but they will not be available in stores and and -- next Friday march 16 Charles.
Can you know to -- saying because though Lawrence in many was just at the store here the debates -- midtown Manhattan then.
There's a guy from Brazil who wanted to TV actually one of the old TV but they don't have the new TV or the old TV.
Look appealing are you getting from this presentation is no -- for the product there's -- actual product and you know we hear it it's it's gonna be you know you can order but.
Is it really ready you know the bill like this lived up to the -- the overall presentation itself -- A couple of things Charles I mean this is that pretty much in line with what apple dies it announces a Friday today in and makes it usually available a week later so the fact that it's not and store its data -- -- -- what does apple fans that they -- because that hasn't happened before.
They are doing and then biggest and most bride international rollout that they aren't ever due waiting for any of their products in -- -- international markets.
Also within a matter of weeks says miles and as far as that's concerned distribution not the issue here.
And one other thing to note is isn't management presentation this was their first full scale hardware product lines.
Without Steve Jobs that -- -- was leading and we saw.
I deep bench at play here is on the executive team and apple we got any 'cause we stop Phil -- we stock.
And a gentleman who runs -- company's video.
Video apps department so -- showing its hands -- its cards in terms of management a little bit more broadly now.
Which I think is indicative of kind of how this company is being run with them aren't.
Broad bench of players and not just.
I'm uniquely by Steve Jobs as far as is isn't it yeah I cannot I don't know yet because I think.
I'm this is pretty much in line with the way apple events and no it is exciting it's exciting to be here it's exciting to get -- handle and see what these new products you.
And it isn't it telling you get and in your hands that you really see the full capabilities.
But this is not BI parent -- this is not sorted the gas iPhone four hasn't been -- it change the game this is the next iteration.
In what is that -- continually evolving.
In a series of products out of apple.
All right -- having said that I want to stay right there we want to bring in Matthew Hoffman managing director of equity research for -- company.
-- your firm has an outperform rating I think on apple your initial assessment of this launch are you feeling good about this or not.
Well certainly the.
The launch was well on dissipated by the stock it's gone from 450 dollars to 525.
Of the last uh oh -- college for four weeks.
So this is a well anticipated launch I don't see any disappointment it's got LT that was the main question the small question for investors coming in.
As it upgraded camera it looks pretty stunning I know I'll be doing next Friday.
Okay there's a -- point go -- yeah I guess you just hinted at it as well.
People wanna get this in their hands because of an apple came -- all of the the iPhone I was before -- -- everyone thought -- was a going to be up five.
There was an initial disappointment that -- maybe these guys are gonna be the same company.
That there were -- Steve Jobs.
So maybe Wall Street now gives them the benefit of the doubt -- in.
Well this one really moves the two hardware parameters that the iPhone four S didn't didn't move in that was that we're improving the screen the resolution.
On on the display and we're improving the forgy capabilities so now video is a real as a real possibility on and on an iPad.
That's something you were comfortable with doing on a three G -- before.
So.
Really really terrific piece are where.
It's a terrific -- hardware but -- and perhaps there are some new pair paradigm improvements but.
You know at the person who's not and add people into this like you guys like to -- -- Matthew.
Ed did the build that perhaps ultimately they're merging -- into one product -- other words weren't scalable basis start to kick him one.
When the iPad have a lot of the features of the iPhone and the ITV and all of start to look the same.
-- great question right now you're missing one thing on the -- -- on the new iPad and that is the capability to really do communication.
Facetime is the only way you can really reach out communicate with someone real time with your voice on one of these devices.
And still today it doesn't look like they're improving the four -- voice with face time.
All on the new iPad so.
All in all it's -- -- it's a it's a terrific product but.
It doesn't do everything yet that would start cannibalizing from the iPhone and and specifically communication.
-- by -- go back to you did you get a sense from us some of the other people wanna crowd that this lived up to the -- as well.
I don't think people here I think everyone -- in the audience kind of expected everything that was delivered today.
Young I think the biggest surprise to -- -- was that was about the name and I think everybody was sitting on the ended their C thinking okay are you gonna drop that I had eight steamy and -- -- crap I -- Yeah.
-- I think right now.
But you know I think got -- may indicate that it is going away on the -- -- you know the iPod doesn't reversion once Q3 or high stakes it's just the iPod and maybe it's taking a different marketing approach with the iPad is well.
Merit I guess everybody I thought everyone was waiting for it and one more thing on gay guys thanks a lot Matthew -- -- -- -- company as your body.
We're gonna see you later again later on in this hour but this brings us to our question of the day and it's on apple the stock --
