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In the meantime -- -- my co anchor Melissa Francis in California with some reaction to the latest news from apple with a key shareholder analysts.
That's right I -- that TD Ameritrade institutional investor conference and I'm joined by Paul Meeks of such -- capital.
Director -- As you've been a long time fan -- a big shareholder so we're getting drips and drabs of this announcement is -- is listening to it and sending it over to us.
Dollars he said was the price point.
This is -- -- a lot of people have been saying earlier this morning we're talking about -- trying to compete with the Kindle fire being a lot cheaper what do you think about that price.
Wait for the price point I was expecting was probably somewhere between 215 -- Angry fifty so this a little bit higher -- on the other hand we need to have more details about the specs to make short that this is.
Actually a seven -- eight inch screen diagonal product which we would call the many.
Yeah that's -- we're looking for is really what's the -- that we haven't heard that yet all we Curtis that down the Wi-Fi is two times faster a little bit of information on the chips that.
What what missing a beat -- basically would be disappointing if this is just a new for ninety donor -- IPad sort of like the others as shareholder would you be disappointed that they -- come up with this meeting there would be cheaper and compete with the Kindle.
-- for -- the key driver for the stock is not this product gets the iPhone 5 in the iPhone 5 ramp.
I would like to see them be able to compete better on the a lower price point that's faced with the iPad but the problem with the Kindle fire and Amazon's product priced at 159 is yeah -- might drive a lot of demand.
But the problem is they've already said that there are selling -- cost.
-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Boy XL lot of them -- don't make any money.
Yet -- that's a great point apple also just said they just sold their hundred billion iPad -- -- think about that.
Not surprising -- been on a great trajectory and obviously it is a product that is highly demanded.
Does not gotten -- that I mean it's not about 9% in the past month do you think that that's a buying opportunity based on what we're hearing.
I think that between may wanna -- hesitating regularly.
-- remember -- firma bought the stock with an average cost of eight dollars and 25 cents -- share back -- here sorry let me hear -- because of -- previous seven point nine inches that's the -- that we were talking about seven to eight inches -- so -- is the one we're looking for at 499.
But we have to find out more about what the capabilities on maybe it's worth 109 yeah no more details we'll find out -- -- -- -- -- all these set their party.
Attack product reviews of -- next days -- weeks.
But I wanted her to keep going to get -- the companies coming out with the earnings in the few days she's always.
A little bit dramatic to try to buy something.
Regardless of what you feel about it right before -- announcement that the big got a point.
And again I worry a little bit more about iPhone 5 -- -- iPhone 5 ramp they do this product you know but the way I look at it is if you were -- Take a look at this company.
And regardless of what they do say they sold potato -- she didn't know the company generates one billion dollars of free cash flow per week yeah and so the way I look at it.
If you put a reasonable market multiple on the stock it's gonna go much higher over time okay.
All right Paul Meeks -- you so much in coming up tonight on money with Melissa -- is at 5 PM eastern we're still going to be here at the conference.
We have former governor Gray Davis -- -- wrestle with him about whether.
Environmental regulations are what's driving up the price of gasoline.
Here in California and of course are gonna -- all over this apple story don't forget FaceBook reports after the -- we're gonna drill down on those details as well.
A lot to get to that for now back to -- you're going to be wrestling with the former governor who.
Think -- analyst that's right that's.
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