[video] Apple's Hot (iPad) Air
NEW YORK ( TheStreet) -- Apple's iPad Air is the hot holiday gift, TheStreet's technology editor Chris Ciaccia says supply is a problem for some models.
Debra Borchardt : Good afternoon. The NAZDAQ is mixed for the day, spending sometime in both positive and negative territories. The big volume is coming from trading in Facebook, Microsoft, Groupon, and eBay. The biggest mover to the upside is GoGo, which is up almost 10 percent and the biggest loser is RF Industries, which is down 14 percent today.
Of course, all anyone wants to talk about is Cyber Monday, when most of us are supposed to be shirking our work duties and shopping online instead. Apparently, it seems many of us are buying the latest iPad. Here to tell us more is our technology editor, Chris Ciaccia. So Chris, now Apple doesn't release any of its sales figures. What makes you think the Air is selling so well?
Chris Ciaccia : Well we've seen the iPad Air and the iPad mini with retina display. They're stocked out, especially in the higher end models; the 64-gig model and the 128-gig model. It's a little bit harder to find these because people are buying them, because they have increased needs for storage, whether that's movies, music, or games.
We've also seen that people are not only buying the iPad Air and iPad mini, they're actually shopping on these devices as well. IBM released a study over the weekend, noting that people are buying on their Tablets more than they are Smartphones. So this is a trend that is worth watching and it especially bodes well for Apple.
Debra Borchardt : You bring up a good point. Apple stock. The Apple stock had been trending down for most of the year. It seems like it's trying to make a comeback. Is this going to help them or is it going to hurt them if they hear that there are supply problems?
Chris Ciaccia : No. I think that Apple CEO, Tim Cook, has finally been able to get the supply issues under constraint. We saw the iPad mini with retina display get kind of a soft launch early last month. Now they're fully available in Apple stores. So I think the supply issues that had constrained Apple for the iPad mini with retina display are now firmly resolved and the iPad Air is available in Apple stores and other retailers around the world. So I don't think the supply issue is going to be a constraint on Apple shares going into the holiday season.
Debra Borchardt : All right. Well, there you go. Thanks, Chris. I guess if you want an iPad Air, you better quit working and go back to shopping. This has been the Tech Report and I'm Debra Borchardt for The Street.