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So the most awaited news from Apple is out. According to Yahoo finance news :
SAN FRANCISCO (AP) — Apple Inc. CEO Steve Jobs on Wednesday unveiled a new version of the company’s popular iPod media player that’s based on the iPhone, featuring wireless Internet access and a Web browser but not cell phone capability.
Dubbed iPod Touch, the 8-millimeter-thick device and can store photos, music, videos and other digital data. It features the same 3.5-inch, touch-screen display as the iPhone, on which light finger touches allow the user to scroll through menus and use two fingers to resize pictures.
The iPod Touch also has built-in wireless Internet access and the Safari Web browser, including Google and Yahoo search engines and easy access to YouTube videos. The iPhone, which runs on the AT&T cellular network, also includes Wi-Fi.
An 8-gigabyte version will cost $299. A 16-gigabyte version will cost $399. It will be shipped worldwide starting later this month.
“It’s one of the seven wonders of the world, it’s just incredible,” Jobs told employees and journalists gathered at a special media event near downtown San Francisco.
Jobs also unveiled other new iPod models, including an iPod Nano with a 2.5-inch video monitor for watching movies and playing built-in games. The current version has a 2-inch screen but does not play videos.
“It’s incredibly tiny. It’s incredibly thin,” Jobs said of the new Nano, which features a 320-by-240-pixel screen with 24 hours of audio playback. “We think it’s really, really beautiful.”
The new Nano, which will be in stores starting this weekend, will come in a 4-gigabyte version for $149, and an 8-gigabyte version for $199.
Apple also announced it will be selling ring tones for the iPhone for 99 cents, plus the 99-cent cost of the song. Ring tones from more than 500,000 songs available on iTunes will go on sale next week.
As soon as the news was out, AAPL started to drift lower. I guess there was nothing brilliant in the announcement and those who already benefited from the run in past few weeks started to book profit. Check out the reaction to the stock price to see how rapidly it started to fall. History repeats for itself. I mentioned about this before the trading begun today, so congratulations to those who profited from this.
AAPL, Apple is still up as there is an announcement pending. Apple has a history of riding high leading to the announcement date and then drifting lower unless the announcement is dramatic. Do watch-out if it crosses $149-$150 on strong volumes and is able to sustain break-out. If not, quite a debatable though, but a bearish play for short-term.
A classic text book “history repeats itself” example. Since the drop started, it has fallen a little over $5. The market has been very good and as US is down today, Asia may have a set-back as well so opened a bearish play on FXI.
Profitable trading, OP
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