Apple, Microsoft, Clearwire: Tech Winners & Losers
The event, which is being held at The California Theater in San Jose, Calif., is expected to feature the launch of a smaller version of the company's iPad tablet product, the so-called iPad Mini, as well as several potential product line refreshes.
The tagline on the invite is "We've got a little more to show you." TheStreet plans to attend the event next week and provide live coverage.
The iPad Mini is anticipated to be a 7.85-inch tablet vs. the 9.7-inch form factor for the iPad. Apple could also unveil new MacBook Pros, a new iMac and a new Mac Mini.
The stock was up 2.4% to $649.72 in recent trades with volume exceeding 17 million.
Without a Touch Cover, the 32 gigabyte version of the Surface tablet will cost $499. If you want the cover, it's an additional $100. A 64 gigabyte version of the Surface bundled with a cover will cost $699. The 64 gigabyte version of the new iPad costs $699 as well.
Microsoft plans to begin selling the Surface on Oct. 26, three days after Apple's iPad Mini event. The stock was down a penny at $29.50 in late trades.
MKM Partners, which has a neutral rating on Microsoft, also previewed the company's quarterly report Tuesday, saying "We believe investors are braced for a difficult quarter in front of Windows 8 launch on October 26 given underlying PC weakness." The firm reiterated its neutral call, lowered earnings estimates and trimmed its price target on the Dow component to $32 from $35.
Citing undisclosed people familiar with Sprint's thinking, Bloomberg said Sprint has "no immediate plans" to acquire the rest of Clearwire and that the top priority is closing on the $20.1 billion investment from Softbank, a process that's expected to take six to eight months.
Interested in more on Clearwire? See TheStreet Ratings' report card for this stock.
--Written by Chris Ciaccia in New York
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