New iPad Boosts These 9 Stocks
Apple eked out a small gain Wednesday following its highly anticipated new iPad launch. The tech giant’s partners, however, staged a decent rally. This may be no surprise considering chip makers powering Apple products have fared well the past two times the company unveiled its coveted tablet.
The new iPad will deliver a more powerful chip, higher-resolution screen, a sharper camera, and access to new high-speed wifi networks. Suppliers of these new and improved features will remain unknown until the product is officially released, though there are a handful of stocks in focus after the new iPad's upgraded capabilities were revealed yesterday.
The following suppliers — with the exception of Nuance Communications and Corning — come from a prior list Apple compiled.
Interestingly, you’ll notice a stark difference if you look at how these company’s settled on the day of the launch versus the waiting period from the time of the unveiling to the actual release, when consumers could finally take apart the product. Perhaps investors were more confident with what they discovered in the original iPad compared to those parts embedded in the iPad2. Or, maybe there was just more hype surrounding the first iPad.
A bundle of stocks could see a boost on the back of the new iPad; here’s a snapshot of three:
- Broadcom supplied a handful of iPad2 products and boasts a long-standing relationship with Apple;
- Qualcomm may be a front-runner for the baseband chip, given it won a similar slot from Infineon in the iPhone 4S; and
- Corning produces Gorilla Glass that has shown up in Apple’s iPhone and iPad2, signaling its display may be a repeat in the newest product
Investors anxious to find out what’s inside won’t have to wait long: The new iPad can be examined Friday, March 16, when it goes on sale.